Kirkrapine
Literotica Guru
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- Sep 24, 2018
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Producerism. These are mostly middle-class people and working-class people who see those below them as as great a threat as those above them -- and, they're not.
Nor, for that matter, are those above them quite the kind of threat they think they are.
This kind of nonsense is actually very old in American populist thought. British conservative Paul Johnson commented in his A History of the American People:
19th-Century Free Silverites wanted an inflationary monetary policy. Modern goldbugs want a deflationary policy. What both have in common is the illusion that things will go better if we somehow get a currency the value of which is beyond the reach of the government or the financial sector to manipulate.
Their attitude to Bitcoin is pretty much the same, apparently.
Nor, for that matter, are those above them quite the kind of threat they think they are.
This kind of nonsense is actually very old in American populist thought. British conservative Paul Johnson commented in his A History of the American People:
The Founders, particularly the Virginians, Washington, Jefferson, Madison, Monroe, et al., equated property, as a moral force, with land. Their views were articulated by John Taylor (1753-1824), like them a Virginia landowner who served in the Senate and published in 1814 a monumental work of 700 pages, An Inquiry in the Principles and Policy of the United States. Taylor distinguished between 'natural' property. such as land, and 'artificial property' created by legal privilege, of which banking wealth was the outstanding example. He saw the right to issue paper money as indirect taxation on the people: 'Taxation, direct or indirect, produced by a paper system in any form, will rob a nation of property without giving it liberty; and by creating and enriching a separate interest, will rob it of liberty without giving it property.' Paper-money banking benefited an artificially created and parasitical financial aristocracy at the expense of the hard-working farmer, and this 'property-transferring policy invariably impoverishes all laboring and productive classes.' He compared this new financial power with the old feudal and ecclesiastical power, with the bankers using 'force, faith and credit' as the two others did religion and feudality. What particularly infuriated Taylor was the horrible slyness with which financiers had invested 'fictitious' property, such as bank-paper and stock, with all the prestige and virtues of 'honest' property.
Taylor's theory was an early version of what was to become known as the 'physical fallacy,' a belief that only those who worked with their hands and brains to raise food or make goods were creating 'real' wealth and that all other forms of economic activity were essentially parasitical. It was commonly held in the early 19th century, and Marx and all his followers fell victim to it. Indeed plenty of people hold it in one form or another today, and whenever its adherents acquire power, or seize it, and put their beliefs into practice, by oppressing the 'parasitical middleman,' poverty invariably follows. Taylor's formulation of this theory fell on particularly rich soil because American farmers in general, and the Southerners and backwoodsmen in particular, already had a paranoid suspicion of the 'money power' dating from colonial times, as we have seen. So Taylor's arguments, suitably vulgarized, became the common coin of the Jeffersonians, later of the Jacksonians and finally of silver-standard Democrats and populists of the late 19th century, who claimed that the American farmer was being 'crucified on a cross of gold.' The persistence of this fallacy in American politics refutes the common assumption that America is resistant to ideology, for if ever there were an ideology it is this farrago.
19th-Century Free Silverites wanted an inflationary monetary policy. Modern goldbugs want a deflationary policy. What both have in common is the illusion that things will go better if we somehow get a currency the value of which is beyond the reach of the government or the financial sector to manipulate.
Their attitude to Bitcoin is pretty much the same, apparently.
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