Posts Tagged blame

Occupy Yourselves: Targeting the Evil, Greedy 100%

The attitudes and actions of the Occupy Wall Street protesters have inspired many others to join the streets in outrage, leaving those of us at home to wonder what the point of it all may be.

And let me assure you: there is indeed a point.

I’ve been struck by the moral arrogance that permeates the crowds — a sort of pretentious, self-absorbed judgmentalism, self-anointed to invade the souls of the rich and expose their moral failings. Such supposed vice, we are told, must be stopped, and it is these brave oracles of materialism and greed who shall stand in its way.

There are, of course, a few problems with this. One is that “ending corporate greed” requires privy knowledge of who is greedy and who is not. We can certainly trust the discernment of the guy smoking pot in the sleeping bag next to the sewer drain, but even if he gets it right, how might we convince Mr. Fat-Cat Richiebottoms to alter his moral outlook?

“Just take his money away,” they’ll say.

Yet if I threw Billy Goodheart’s “Everyone is greedy but me!” sign in the garbage, my hunch is that his ability to produce quality picketing art would only improve. There he’d be, the very next day, with the same attitudes, the same platitudes, and the same distasteful propensity to blame the Man.

Reality alert: You cannot change the world by blaming others, and you cannot change moral behavior by yelling.

With particular precision, David Brooks sums up the issue nicely:

If there is a core theme to the Occupy Wall Street movement, it is that the virtuous 99 percent of society is being cheated by the richest and greediest 1 percent. This is a theme that allows the people in the 99 percent to think very highly of themselves. All their problems are caused by the nefarious elite.

And problems do abound. Yes, there are structural issues with the status quo. Yes, corporatism is out of control (which is not the same as “capitalism,” mind you). Yes, banks and businesses were/are reckless. Yes, people were/are greedy. You woke up on the right planet.

The question is, “What can we do about it?”

In a free society, one thing we can control is our own lives. If we don’t want to be beholden to greedy misers or enslaved to high-interest credit cards, we can say “no.” If we don’t want to be tied to 10 years of student-loan debt that we can’t afford, we can go to a trade school or demonstrate some basic upfront frugality. If we’re looking for our dream job and can’t find it, we can continue to increase our skills and standing, no matter how frustrating the process may be.

If, however, we are trying to “be the change we want to see in the world” by sleeping in a gutter for weeks on end, we should be prepared to receive our prize.

What we need is what John Witherspoon once called a “return to duty” — an introspective moment that leads us to “hearken the rod” rather than disdain it, to return to Read the rest of this entry »

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Meltdown: Moral Hazard and the Financial Crisis

Meltdown by Thomas E. Woods, Jr.We are all aware of the current economic crisis. Whether we’ve experienced job loss, a devalued mortgage, or simply a higher price tag on our groceries, we all know that uncertainty is in the air.

In such extreme circumstances, it’s hard to maintain a clear perception. We all feel wronged, and we all want someone to blame.

It may be fitting, then, to begin by playing a little blame game.

First of all, it’s the bankers’ fault because they’re greedy. They lent too much money to people who made too little, and they should’ve been stopped. Then again, maybe it’s their customers’ fault. After all, isn’t it a bit greedy to buy a house you can’t afford? But wait a minute, aren’t the financial speculators to blame? Just think about it. There they were, crouching like vultures, waiting to feed on the failures of poor innocents.

Conclusion? (Duh!)

“The problem is greed.” says Politician A (or Media Pundit B). “And we all know who we can thank for that. Capitalism!

It this confused, muddled mess that Thomas E. Woods hopes to permeate with his recent book, Meltdown: A Free-Market Look at Why the Stock Market Collapsed, the Economy Tanked, and Government Bailouts Will Make Things Worse (quite a laborious subtitle, if you ask me).

As far as my fun little game goes, Woods thinks there is plenty of truth behind it. Indeed, the narrative is filled with people who were overly hasty, downright foolish, and yes, excessively greedy.

But not all bankers loaned unwisely and not all homeowners went beyond their means, so why did such greed manifest so suddenly, and why didn’t we have this problem before? If bankers are Read the rest of this entry »

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