Without intent, David Harvey summarizes in an RSAnimation, recurring theme’s (providing categories sorely missing in this blog), questions, and explanatory formats, we have been living through these past years, he calls these genres:
1. Human frailty
2. Institutional failures
3. Failed theory
4. Cultural origins (Vikings are pigs)
5. Failure of policy
He then goes on to these (GSQ) questions:
Is there a Systemic risk?
Are there Internal contradictions of capital accumulation?
What about Financial innovation?
Can we change our mode of thinking?
– Or are we doomed to the fate of Sisyphus?
Carl Jung is attributed to have said “What [we] resist persists.”
Not at all hopeful for us or the way in which we have been handling the “boulder”.
Another peculiar paradox in this saga is the Recovery Industry which consists of more or less the same ‘class’ that bankrupted us, – not unlike the Counter-Terrorism Industry, or even the Military–industrial complex ever securing the peace – God Forbid.
In the Divine Comedy the inscription at the entrance to Hell reads, “Abandon hope all ye who enter here”.
However, in our own wacky version we get saved at the entrance by the “Great Icelandic Hockey Bailout.” because we are ‘too small to fail’, QED.