Topic: Chinese maoists: "long live the great wall st revolution" | |
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Letter from China October 4, 2011 Chinese Maoists: “Long Live the Great Wall Street Revolution!” Posted by Evan Osnos News of the Occupy Wall Street protests have reached China with gusto this week, drawing a range of impassioned—if puzzled—responses across the political spectrum. The narrow band of Chinese nationalists who yearn for the days of Mao have discovered an appealing “revolutionary spirit” in American political life. In a piece proclaiming, “Long Live the Great Wall Street Revolution!” the reliably patriotic site called M4 suggests that, in a twist, the Chinese could learn something about protesting from Americans: We should demand our government return to President Mao’s philosophy, stop privatization, and return to the true beliefs of the Communist Party. Stop practicing Marxism on the stage—with capitalism backstage. Capitalism is a dead end; there is no future for it. Fixing wrongdoings and returning to socialism is the only correct way! One is tempted to see irony in the next sentence, but it is less a joke, I suspect, than a measure of how muddled Chinese political loyalties are these days: “Chinese government officials, wake up!” the nationalists add. “Take a look at what’s happening on Wall Street! Don’t be swept into the dustbin of history by the people, just as the autumn wind blows away the falling leaves!” Even for those who follow Chinese politics, the allegiances here can get a bit confusing. In short, these are nationalists, after all, who generally side with the government on political questions—such as whether people should be allowed to go into the streets to protest. (No, generally.) Except, in this case we’re talking about protesters who are denouncing the excesses of capitalism. Now that is a protest a Chinese patriot can get behind! Indeed, the Chinese press has been happy to wonder, as one piece put it , “Are jasmine flowers blossoming in America?” Or to flip over the kind of platitude usually uttered about China: “Experts say that the Wall Street protest shows social problems in America such as the gap between the rich and the poor.” China News has gone so far as to christen a nickname : In history, young Americans have always been lumped into specific “generations.” There was “The Lost Generation” after the First World War, and then “The Beat Generation” after the Second World War. Now, will the young people coming of age after the financial crisis become “The Occupy Generation? Rounding out this through-the-looking-glass moment in Chinese political commentary, it fell to someone else to make the argument on behalf of the Chinese government (or, was it on behalf of capitalism?). Who better than Tencent, a listed corporation that has benefited from the free market, which bravely volunteered that “Wall Street is definitely not ‘pure evil.’” To the proletariat, it noted, bonuses may appear enormous, but one shouldn’t blame the winners. “As private companies, these companies decide their own payment systems. The government doesn’t have any power over them other than taxes,” the commentary explained. “The Wall Street culture has always been high risk associated with high return. There would be no financial empire today, if it weren’t for greed.” Keywords China ; Occupy Wall Street POSTED IN Letter from Chinа Registration on or use of this site constitutes acceptance of our User Agreement (Revised January 7, 2009) and Privacy Policy (Revised January 7, 2009) . The New Yorker©2010 Cond Nast Digital. All rights reserved. |
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The New Yorker
search Search newyorker.com Search Top Stories In The Magazine Blogs Audio&Video Listings Cartoons October 6, 2011 Wall Street Protests: Signs of the Times Posted by John Cassidy Wednesday evening, I stood outside the Tweed Courthouse on Chambers Street for almost two hours watching people stream by in one of the biggest protest marches I have seen in this town, and I’ve been here a while. Some were union members who had joined the young Occupy Wall Street activists camped out in Zuccotti Park; others were students from colleges around the city; many were individuals present on their own account. (I wrote about what Keynes would have made of the protests earlier this week.) Lots of the protesters were carrying homemade signs conveying their feelings. Some of the signs were funny. Some were predictable. Some were downright bizarre. I noted down as many as I could, thinking I would try and pick out the most memorable. Here they are, roughly in the order I saw them. (As I write this, there are reports of sporadic trouble in the Wall Street area after the main march had finished. I didn’t see any of that. From where I stood, the protest was good-natured and peaceful—festive, almost. But clearly, there is a tension within the movement between a minority that wants to confront the police and those who simply want to make their point. More on that anon. But first, the signs.) “APATHY IS FOR ASSHOLES” “TAX WALL STREET LEECHES” “They Got a Bailout. We Got Sold Out.” “**** GOOGLE” “TURN WALL STREET INTO TAHRIR SQUARE” “Something has gone wrong in America. We will not be silent” “Hedge Funds Win When Pensioners Lose” “STOP ROBBING THE MIDDLE CLASS TO PAY THE RICH” “It’s my money and I need it now!” “TAX THE RICH A LOT!” “RAGING GRANNIES W/THEIR DAUGHTERS” “WALL STREET WHITE MEN YOU NO LONGER RUN THE UNIVERSE” “ARREST THE KOCH BROTHERS” “HEY BANKERS! YOU BREAK IT, YOU PAY FOR IT” “NO BONUSES FOR THE BAILED OUT” “QUICK! SELL EVERYTHING AND INVEST IN PEPPER SPRAY’ “BUY STOCKS NOT POLITICIANS” “GREED IS AN ADDICTION” “EAT THE RICH” “I AM HERE TO TAKE BACK OUR COUNTRY” “AMERICAN NURSES SUPPORT OCCUPY WALL STREET” “FARMERS FOR CLEAN FOOD. NO GMO” “ENOUGH IT ENOUGH” “BAN FRACKING NOW” “LONG LIVE THE SPIRIT OF MADISON” “STOP THE CUNY TUITION HIKES” “JP MORGAN IS A KLEPTOMANIAC” “STOP REWARDING FAILURE. GOLDEN SHOWERS NOT GOLDEN PARACHUTES” “ERIC CANTOR: AMERICA’S CANCER” “THIS IS WHAT DEMOCRACY LOOKS LIKE” “WHAT’S IN YOUR WALLET?” “DEVELOP YOUR EMPATHY’ “SUPPORT OUR KIDS” “FED UP? WANT CHANGE? TAKE ACTION NOW” “NOT SO FAST YOU GREEDY BASTARDS” “WHERE ARE MY TAX BREAKS?” “Capitalism is not healthy for children and other living things” “OPEN YOUR EYES. THIS IS THE REVOLUTION!” “I’m all about that 99%. BUTT!!” “OBAMA = BUSH” “I’M YOUNG EDUCATED AND ANGRY’ “Due to recent budget cuts, the light at the end of the tunnel has been turned off.” “CRIME PAYS IN THE USA, ON WALL STREET” “REGULATE MARKETS, FREE PEOPLE.’ “LISTEN TO THE WARRENS” “MARX WAS RIGHT” “BILLIONAIRES YOUR TIME IS UP” “IMPEACH OBAMA. PROTECTOR OF WALL STREET PARASITE CRIMINALS” “ANOTHER TRUST FUND BABY FOR THE REDISTRIBUTION OF WEALTH” “Tax and regulation irrational exuberance” “DON’T MACE ME BRO. MY MOM IS HERE” “Bankers are Cylons” “This is SO not over” “MAKE LOVE” “OCCUPY EVERYTHING” “ROBIN HOOD WAS RIGHT” “I’M A BORN-AGAIN AMERICAN” “JP MORGAN BOUGHT THE NYPD” “I AGREE” “JOIN US SAVE OUR REPUBLIC” “PEOPLE BEFORE PROFITS” “WAKE UP” “IMMIGRANTS ARE THE 99%” “One Nation Under Greed” “DECOLONIZE WALL STREET’ “WE ARE HERE TO PROTECT THE FUTURE” “END SUBSIDIES TO BIG AGRICULTURE” “I’m self-employed and can’t afford healthcare. I am the 99%” “JAIL THE BANKERS” “DREAM BIG!” “They bought off Washington and gave us the TAB” “I’m just another homeless hippie living off my parents’ trust fund. Ignore me no more.” “EXPROPRIATE THE EXPROPRIATORS’ “LET THEM EAT BIG MACS” “We Know Who Our Enemies Are” “I Participate. You Participate. He Participates. We Participate. THEY PROFIT” “LESS KOCH MORE COCK” “GOLDMAN SUCKS” “READ MY LIPS: TAX THE RICH” “WELCOME BACK TO THE FIGHT. THIS TIME I KNOW OUR SIDE WILL WIN.” “GUILTY BANKERS SHOULD BE IN JAIL” “END THE FED” “GIVE MY PROFESSOR HEALTH INSURANCE” “WALL STREET BANK ROBBERS LOOT THE PUBLIC” “JESUS WAS THE 99%” “DON’T ARREST PROTESTORS” “Our politicians are the priesthood of capitalism” “BOEHNER&CANTOR: GREEDY BANKSTERS” “MY KIDS AREN’T PAYING FOR YOUR BONUS” “The Obama we thought we had elected would be here with us, not ignoring us.” “DOCTORS FOR THE 99%” “END CORPORATE FACISM” “GENTLEMEN AGAINST GREED” “YOU CAN’T FOOL ALL OF THE PEOPLE ALL OF THE TIME” “GREED IS BAD” “I’m Mad as Hell” “PROTECT THE COMMONS” “Hands off Social Security” “KICK ‘M IN THE JUNK BONDS” “SAVE A HORSE. RIDE A BANKER” “WOMEN UNITED AGAINST REPUBLICAN/TEA PARTY SCUM” “THE MIDDLE CLASS IS TOO BIG TO FAIL” “DE-PRIVATIZE DEMOCRACY” “CART WHEELS FOR JUSTICE” “Corporations are people too?” “CITIBANK CRIMINALS” “WE MARCH FOR HOPE NOT HATE” “ARE WE GOING TO LET A BUNCH OF GREEDY SELFISH FOOLS DO IN THE WHOLE PLANET?” “TEAR DOWN THIS WALL STREET” “THE MONETARY SYSTEM IS THE PROBLEM” “Give Power Back to the People” “THE REVOLUTION WILL NOT BE TELEVISED. BUT IT WILL BE LIVESTREAMED, TWEETED, YOUTUBED, AND FACEBOOKED” “WE ARE THE 99%” “HEY BANKS. STOP USING THE $s I DEPOSIT TO SCREW MY NEIGHBOR” “WISE OWLS SEEK ECONOMIC JUSTICE FOR ALL” “PUPPETEERS BEFORE PROFIT” “OBAMA. TIME TO WALK THE WALK” “MONEY FOR SCHOOLS NOT WAR” “Where is George Bailey when you need him? We’re done with Pottersville.” “WEED NOT GREED” “WORKING CLASS AND PISSED OFF” “PARADIGM SHIFT NOW” “FORECLOSE BLANKFEIN” “I OWE SALLIE MAE $25,123.91” “DROP COPS NOT BOMBS” “LIBERTE, EGALITE, FRATERNITE” “I AM NOT PATRIARCHY’S BITCH” “Wall Stree: ‘The love of money is the root of all evil.’ Jesus” “TAKE THIS TEA PARTY” “WITHOUT MONEY WE’D ALL BE RICH” “CORPORATIONS ARE PSYCHOPATHS. HOLD THEM ACCOUNTABLE” “The free market keeps giving me the invisible finger” “POWER TO THE PEACEFUL” ” ‘The most important political office is that of private citizen,’ Louis Brandeis” “BUFFET’S SECRETARY” “ARAB SPRING, WALL STREET FALL’ “Both parties are beholden to corporate $. I want my voice back.” “STANDING UP FOR THE CHANGE WE VOTED FOR” “JOIN THE REVOLUTION” “SEX WORKERS AGAINST CAPITALISM” “FINANCIAL TRANSACTIONS TAX TODAY” “USA IS NOT FOR SALE” “WARREN BUFFET IS SMARTER THAN YOU” “BILLIONS FOR BANKERS, CUTBACKS FOR WORKERS. HELL NO!” “WALL STREET NEEDS AN ENEMA. FULL OF CRAP!” “JUILLIARD STUDENTS SUPPORT OCCUPY WALL STREET” “WALL STREET HAS THE WEAPONS OF MASS DESTRUCTION” “THIS IS THE MOST HOPEFUL I HAVE FELT IN A LONG |
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The New Yorker
search Search newyorker.com Search Top Stories In The Magazine Blogs Audio&Video Listings Cartoons Rational Irrationality John Cassidy on economics, money, and more. « Will the Big Bad Banks Save Obama? Main October 6, 2011 Wall Street Protests: Signs of the Times Posted by John Cassidy Wednesday evening, I stood outside the Tweed Courthouse on Chambers Street for almost two hours watching people stream by in one of the biggest protest marches I have seen in this town, and I’ve been here a while. Some were union members who had joined the young Occupy Wall Street activists camped out in Zuccotti Park; others were students from colleges around the city; many were individuals present on their own account. (I wrote about what Keynes would have made of the protests earlier this week.) Lots of the protesters were carrying homemade signs conveying their feelings. Some of the signs were funny. Some were predictable. Some were downright bizarre. I noted down as many as I could, thinking I would try and pick out the most memorable. Here they are, roughly in the order I saw them. (As I write this, there are reports of sporadic trouble in the Wall Street area after the main march had finished. I didn’t see any of that. From where I stood, the protest was good-natured and peaceful—festive, almost. But clearly, there is a tension within the movement between a minority that wants to confront the police and those who simply want to make their point. More on that anon. But first, the signs.) “APATHY IS FOR ASSHOLES” “TAX WALL STREET LEECHES” “They Got a Bailout. We Got Sold Out.” “**** GOOGLE” “TURN WALL STREET INTO TAHRIR SQUARE” “Something has gone wrong in America. We will not be silent” “Hedge Funds Win When Pensioners Lose” “STOP ROBBING THE MIDDLE CLASS TO PAY THE RICH” “It’s my money and I need it now!” “TAX THE RICH A LOT!” “RAGING GRANNIES W/THEIR DAUGHTERS” “WALL STREET WHITE MEN YOU NO LONGER RUN THE UNIVERSE” “ARREST THE KOCH BROTHERS” “HEY BANKERS! YOU BREAK IT, YOU PAY FOR IT” “NO BONUSES FOR THE BAILED OUT” “QUICK! SELL EVERYTHING AND INVEST IN PEPPER SPRAY’ “BUY STOCKS NOT POLITICIANS” “GREED IS AN ADDICTION” “EAT THE RICH” “I AM HERE TO TAKE BACK OUR COUNTRY” “AMERICAN NURSES SUPPORT OCCUPY WALL STREET” “FARMERS FOR CLEAN FOOD. NO GMO” “ENOUGH IT ENOUGH” “BAN FRACKING NOW” “LONG LIVE THE SPIRIT OF MADISON” “STOP THE CUNY TUITION HIKES” “JP MORGAN IS A KLEPTOMANIAC” “STOP REWARDING FAILURE. GOLDEN SHOWERS NOT GOLDEN PARACHUTES” “ERIC CANTOR: AMERICA’S CANCER” “THIS IS WHAT DEMOCRACY LOOKS LIKE” “WHAT’S IN YOUR WALLET?” “DEVELOP YOUR EMPATHY’ “SUPPORT OUR KIDS” “FED UP? WANT CHANGE? TAKE ACTION NOW” “NOT SO FAST YOU GREEDY BASTARDS” “WHERE ARE MY TAX BREAKS?” “Capitalism is not healthy for children and other living things” “OPEN YOUR EYES. THIS IS THE REVOLUTION!” “I’m all about that 99%. BUTT!!” “OBAMA = BUSH” “I’M YOUNG EDUCATED AND ANGRY’ “Due to recent budget cuts, the light at the end of the tunnel has been turned off.” “CRIME PAYS IN THE USA, ON WALL STREET” “REGULATE MARKETS, FREE PEOPLE.’ “LISTEN TO THE WARRENS” “MARX WAS RIGHT” “BILLIONAIRES YOUR TIME IS UP” “IMPEACH OBAMA. PROTECTOR OF WALL STREET PARASITE CRIMINALS” “ANOTHER TRUST FUND BABY FOR THE REDISTRIBUTION OF WEALTH” “Tax and regulation irrational exuberance” “DON’T MACE ME BRO. MY MOM IS HERE” “Bankers are Cylons” “This is SO not over” “MAKE LOVE” “OCCUPY EVERYTHING” “ROBIN HOOD WAS RIGHT” “I’M A BORN-AGAIN AMERICAN” “JP MORGAN BOUGHT THE NYPD” “I AGREE” “JOIN US SAVE OUR REPUBLIC” “PEOPLE BEFORE PROFITS” “WAKE UP” “IMMIGRANTS ARE THE 99%” “One Nation Under Greed” “DECOLONIZE WALL STREET’ “WE ARE HERE TO PROTECT THE FUTURE” “END SUBSIDIES TO BIG AGRICULTURE” “I’m self-employed and can’t afford healthcare. I am the 99%” “JAIL THE BANKERS” “DREAM BIG!” “They bought off Washington and gave us the TAB” “I’m just another homeless hippie living off my parents’ trust fund. Ignore me no more.” “EXPROPRIATE THE EXPROPRIATORS’ “LET THEM EAT BIG MACS” “We Know Who Our Enemies Are” “I Participate. You Participate. He Participates. We Participate. THEY PROFIT” “LESS KOCH MORE COCK” “GOLDMAN SUCKS” “READ MY LIPS: TAX THE RICH” “WELCOME BACK TO THE FIGHT. THIS TIME I KNOW OUR SIDE WILL WIN.” “GUILTY BANKERS SHOULD BE IN JAIL” “END THE FED” “GIVE MY PROFESSOR HEALTH INSURANCE” “WALL STREET BANK ROBBERS LOOT THE PUBLIC” “JESUS WAS THE 99%” “DON’T ARREST PROTESTORS” “Our politicians are the priesthood of capitalism” “BOEHNER&CANTOR: GREEDY BANKSTERS” “MY KIDS AREN’T PAYING FOR YOUR BONUS” “The Obama we thought we had elected would be here with us, not ignoring us.” “DOCTORS FOR THE 99%” “END CORPORATE FACISM” “GENTLEMEN AGAINST GREED” “YOU CAN’T FOOL ALL OF THE PEOPLE ALL OF THE TIME” “GREED IS BAD” “I’m Mad as Hell” “PROTECT THE COMMONS” “Hands off Social Security” “KICK ‘M IN THE JUNK BONDS” “SAVE A HORSE. RIDE A BANKER” “WOMEN UNITED AGAINST REPUBLICAN/TEA PARTY SCUM” “THE MIDDLE CLASS IS TOO BIG TO FAIL” “DE-PRIVATIZE DEMOCRACY” “CART WHEELS FOR JUSTICE” “Corporations are people too?” “CITIBANK CRIMINALS” “WE MARCH FOR HOPE NOT HATE” “ARE WE GOING TO LET A BUNCH OF GREEDY SELFISH FOOLS DO IN THE WHOLE PLANET?” “TEAR DOWN THIS WALL STREET” “THE MONETARY SYSTEM IS THE PROBLEM” “Give Power Back to the People” “THE REVOLUTION WILL NOT BE TELEVISED. BUT IT WILL BE LIVESTREAMED, TWEETED, YOUTUBED, AND FACEBOOKED” “WE ARE THE 99%” “HEY BANKS. STOP USING THE $s I DEPOSIT TO SCREW MY NEIGHBOR” “WISE OWLS SEEK ECONOMIC JUSTICE FOR ALL” “PUPPETEERS BEFORE PROFIT” “OBAMA. TIME TO WALK THE WALK” “MONEY FOR SCHOOLS NOT WAR” “Where is George Bailey when you need him? We’re done with Pottersville.” “WEED NOT GREED” “WORKING CLASS AND PISSED OFF” “PARADIGM SHIFT NOW” “FORECLOSE BLANKFEIN” “I OWE SALLIE MAE $25,123.91” “DROP COPS NOT BOMBS” “LIBERTE, EGALITE, FRATERNITE” “I AM NOT PATRIARCHY’S BITCH” “Wall Stree: ‘The love of money is the root of all evil.’ Jesus” “TAKE THIS TEA PARTY” “WITHOUT MONEY WE’D ALL BE RICH” “CORPORATIONS ARE PSYCHOPATHS. HOLD THEM ACCOUNTABLE” “The free market keeps giving me the invisible finger” “POWER TO THE PEACEFUL” ” ‘The most important political office is that of private citizen,’ Louis Brandeis” “BUFFET’S SECRETARY” “ARAB SPRING, WALL STREET FALL’ “Both parties are beholden to corporate $. I want my voice back.” “STANDING UP FOR THE CHANGE WE VOTED FOR” “JOIN THE REVOLUTION” “SEX WORKERS AGAINST CAPITALISM” “FINANCIAL TRANSACTIONS TAX TODAY” “USA IS NOT FOR SALE” “WARREN BUFFET IS SMARTER THAN YOU” “BILLIONS FOR BANKERS, CUTBACKS FOR WORKERS. HELL NO!” “WALL STREET NEEDS AN ENEMA. FULL OF CRAP!” “JUILLIARD STUDENTS SUPPORT OCCUPY WALL STREET” “WALL STREET HAS THE WEAPONS OF MASS DESTRUCTION” “THIS IS THE MOST HOPEFUL I HAVE FELT IN A LONG TIME” Keywords Occupy Wall Street POSTED IN Rational Irrationality Tweet SHARE Comments Blog Scripts (hidden in mobile.css) View full version of newyorker.com Registration on or use of this site constitutes acceptance of our User Agreement (Revised January 7, 2009) and Privacy Policy (Revised January 7, 2009) . The New Yorker©2010 Cond Nast Digital. All rights reserved. |
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The New Yorker
search Search newyorker.com Search Top Stories In The Magazine Blogs Audio&Video Listings Cartoons Rational Irrationality John Cassidy on economics, money, and more. « Wall Street Protests: Commissioner Kelly Outdoes Himself Main Another Reason to Support Occupy Wall Street » October 3, 2011 What Would Keynes Say Now? Posted by John Cassidy In the latest edition of the magazine, I have a longish essay on John Maynard Keynes , whose magnum opus, “The General Theory of Employment, Interest, and Money,” turns seventy-five this year, and who is the subject of several new books. (For the moment, the piece is behind a firewall.) Obviously, it’s not exactly an unexplored subject, but Keynes is one of those pesky fellows who simply won’t go away, despite the best efforts of Rick Perry and many other conservatives to consign him to history. As somebody who was first taught economics in England, and who has written a lot about market failures, I have always thought of myself as a “Keynesian.” But the task of rereading much of Keynes’s writings and distilling them into five thousand words accessible to the general reader forced me to think hard about what the phrase really means, both in terms of economic theory and current policy applications. Keynes wrote a lot, and over the years his views changed quite substantially. If you search his writings, you can find a quote here or there to back up all sorts of things, including even supply-side economics. (Thanks to Dr. Arthur Laffer for pointing out that one.) But the real essence of Keynes, I eventually decided, can be expressed in these terms: 1. In the short-run, demand is what drives economies, not prices. 2. In a demand-driven economy, many types of unfavorable and self-sustaining outcomes are possible, including lengthy slumps. 3. The role of the government is to sustain demand and help the economy avoid such disastrous outcomes. I regard these statements as truisms, even though others would dispute them, to varying degrees. Once you get beyond them, things get murky. For example, like most economists of a certain age, I was brought up on the “I.S.L.M.” model, a toy version of Keynesianism due to Sir John Hicks, which allows you to depict the entire economy in the form of two simple curves: one representing investment and saving, the other the supply and demand for money. In policy terms, the I.S.L.M. setup remains immensely useful. Whenever I hear somebody saying, “We should cut taxes on X,” or, “The Fed should do Y,” I automatically think to myself: “What would that do to the I.S. and L.M. curves?” I’d be willing to bet that many of the economists who work at the White House and the Fed go through a similar exercise. But I.S.L.M. is a crude form of Keynesianism. It depends on the assumption that prices are fixed, which is obviously not true. Conservative economists have always posed this question: In a depressed economy, why won’t prices and wages adjust to restore a full-employment “equilibrium”? Keynes’s answer, which it must be said he never fully integrated into what modern economists would recognize as a “model,” had to do with uncertainty and crowd psychology. When “animal spirits” are depressed, he pointed out, the mere availability of cheap money and cheap labor won’t be sufficient to make businesses invest and expand. Rather, the economy will get stuck in rut. There’s much more about this is in the piece, together with some speculations about what Keynes would be recommending now. Obviously (at least I think it’s obvious) he would be defending the Obama stimulus and arguing for more of the same. But I think he would also be consumed by the international situation, particularly the European debt crisis. After his experience at the Paris peace talks after the First World War, where he saw the victors impose onerous debts on the Germans and Austrians with disastrous consequences, he would surely be pushing for a restructuring of Greek debt, and probably something similar for Ireland and Portugal, too. Finally, and I didn’t put this in the piece, I think Keynes would be sympathetic towards the anti-Wall Street protestors who are camping out in downtown Manhattan . Somewhat like George Soros, Keynes was an ardent and skilled speculator in the markets who, nonetheless, had few illusions about the social utility of various fashionable forms of finance. “Speculators may do no harms as bubbles on a steady stream of enterprise,” he wrote. “But the position is serious when enterprise becomes a bubble on the whirlpool of speculation. When the capital development of a country becomes a by-product of the activities of a casino, it is likely to be ill-done.” Maybe the protestors should reprint that quote in the next edition of their new newspaper, The Occupied Wall Street Journal . Keynes in 1925. Photograph: Bettman/Corbis. Keywords John Maynard Keynes ; Occupy Wall Street ; Wall Street POSTED IN Rational Irrationality Tweet SHARE Comments Blog Scripts (hidden in mobile.css) View full version of newyorker.com Registration on or use of this site constitutes acceptance of our User Agreement (Revised January 7, 2009) and Privacy Policy (Revised January 7, 2009) . The New Yorker©2010 Cond Nast Digital. All rights reserved. |
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The occupy generation. I like it.
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One nation under greed. So true.
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Without money we would all be rich. I like the irrefutably of that.
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That Sallie Mae one sure hit home.
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