Wednesday, April 4, 2007

Barber: Overselling Capitalism

Overselling capitalism: Why today's markets are headed for disaster unless there is a shift in focus, by Benjamin Barber. Los Angeles Times, April 4, 2007.

Barber is the author of Jihad vs. McWorld and his newest Consumed: How Markets Corrupt Children, Infantilize Adults, and Swallow Citizens Whole a book I am looking forward to reading.

THE CRISIS IN subprime mortgages betrays a deeper predicament facing consumer capitalism triumphant: The "Protestant ethos" of hard work and deferred gratification has been replaced by an infantilist ethos of easy credit and impulsive consumption that puts democracy and the market system at risk.
Good Article.

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