From THE NEW YORK REVIEW:
…Today, we can still hear sputtering echoes of the attempt to reignite the cold war around a crusade against “Islamo-fascism.” But the true mental captivity of our time lies elsewhere. Our contemporary faith in “the market” rigorously tracks its radical nineteenth-century doppelgänger—the unquestioning belief in necessity, progress, and History. Just as the hapless British Labour chancellor in 1929–1931, Philip Snowden, threw up his hands in the face of the Depression and declared that there was no point opposing the ineluctable laws of capitalism, so Europe’s leaders today scuttle into budgetary austerity to appease “the markets.”
But “the market”—like “dialectical materialism”—is just an abstraction: at once ultra-rational (its argument trumps all) and the acme of unreason (it is not open to question). It has its true believers—mediocre thinkers by contrast with the founding fathers, but influential withal; its fellow travelers—who may privately doubt the claims of the dogma but see no alternative to preaching it; and its victims, many of whom in the US … [who] proclaim the virtues of a doctrine whose benefits they will never see.
We know perfectly well that untrammeled faith in unregulated markets kills: the rigid application of what was until recently the “Washington consensus” in vulnerable developing countries—with its emphasis on tight fiscal policy, privatization, low tariffs, and deregulation—has destroyed millions of livelihoods. Meanwhile, the stringent “commercial terms” on which vital pharmaceuticals are made available has drastically reduced life expectancy in many places. But in Margaret Thatcher’s deathless phrase, “there is no alternative.” …
One hundred years after his birth, fifty-seven years after the publication of his seminal essay, [Czeslaw] Miłosz’s indictment of the servile intellectual rings truer than ever: “his chief characteristic is his fear of thinking for himself.” …
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