In term of global assessment, McMurtry really delves into the heart of the destructive legacy of the free-market, unfortunately without grasping that it is the mere presence of money which causes such a despotic collusion of special interests. But here below is a few paragraphs that best summarize what Earth Custodians are restlessly conveying. We chose Mc Murtry for his academic background and his capacity to identify the cracks into the system.
MCMURTRY: One might argue on the work’s behalf, however, that market totalization has selected forever more velocities and volumes of commodities and commodifications with no limit, and so the electronic media revolution has fitted like a glove to the marketing invasions everywhere in the public sector – which is the book’s main concern. But this underlying line of inquiry does not arise. Nor, relatedly, does the issue that hard copy foundations themselves disappear in the pervasive marketing electrification. Most profoundly, as the commodification of society’s civil commons advances – even of language as commercial property – any common life-ground is eliminated. As social communication becomes more dominated by advertising and corporate sellers invading ever more of society’s policy discussions, information sources, sports, arts and news as marketing sites, citizens are reduced to atomic consumers rather than joint participants in understanding and effecting the common life good. Beneath notice, the very bases of public choice are erased.
EARTH CUSTODIANS: McMurtry often refers to the word “neo-liberalism”, which still somehow reflects on the left vs right paradigm legitimizing the role of monetarism. Although able to describe all the ills afflicting world nations, he perfectly gets the commodification of Life, which is the sign of a great intellectual awareness, and more than 50% of the solution. Because if the commodification factor remains unacknowledged, let alone trying to even possibly to find a way out of the maze of complexities. And when the commodification is taken out if the equation, solutions appear to fall right into place — suddenly and simply.
No-one evidently notices even in economic science that this ‘knowledge economy’ has no standard for ‘knowledge’. This epistemic ignorance rules without a blink. More deeply, its presupposed value system assumes a-priori that all that sells, from junk foods to deadly weapons, are goods with no-one objecting …. All of these facts fit well to the The Death of Public Knowledge? How Free Markets Destroy the General Intellect. Yet none can be detected from the parameters of empirical studies. The carcinomic nature of the self-multiplying private money-sequencing through social and planetary life is linguistically masked a-priori as society’s ‘well-being’ and ‘growth’, the very metric of this economic pseudo-science. It is here that the ultimate breakdown of public knowledge occurs, within the academic ‘sciences’ themselves. The free market model which governments slavishly follow is life-blind in principle, with no coordinates but nineteenth-century liquid mechanics mapped onto market money-sequences of priced commodities for private profit.1
That’s a very chilling paragraph. That is how far, as a society, we harm ourselves, endorsing a system rewarding money creation. Anything that sells has its place on the market regardless of the consequences. Hard to deny that it is not pseudo-science. Earth Custodians call it “market psychosis”. Any financial concentration is against Nature. The more the market centralizes the more devastation it causes. Without centralization the market falls apart because the monopoly on value crumbles down. A market with absolutely no intervention of any kind would make profits elusive. The oil market fluctuates because it is allowed to do so to create profits, while its value is absolutely monopolized. Fluctuations created by transparency and non-intervention would make trade impossible. Just an example among others.
Why do so many people still know in their experience that the free corporate market works for them? If they have the enough money demand, they can buy ever more commodities and conveniences for themselves, a pragmatic proof it seems. Yet all the low-paid workers and ecocidal extractions, mass industrial production, and material wastes throughout are all “externalities” to this seemingly beneficial exchange. This follows from the market’s first principles. So it is perfectly consistent with its logic that life-coherent understanding of social and ecological reality do not register as a concern.
The pursuit of personal happiness — and of course greed — was hailed by the economist Adam Smith and the like. As long as profits are coming in, the market forces are left to themselves on purpose, because all that is needed is to have lobbies working towards the same ends, making more money. Such “externalities” cannot be taken into consideration otherwise they would begin to reduce profits. The market cannot fix itself, unless many are willing to let go most of their gains. For an economic system to work for everybody, transparency is essential, and is this what those at the very top will always fight against.
EARTH CUSTODIANS’ AXIOMS: WEALTH EXTRACTS ITS POWER FROM IGNORANCE. WHEN KNOWLEDGE SPREADS EVENLY, THERE IS NO LONGER ANY NEED FOR MONEY. BECAUSE ALL HUMAN BEINGS ARE AWARE OF THE POWER MECHANISMS!
We highly recommend McMurtry’ study as a very interesting eye opener.