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Friday, August 17, 2007 12:00 AM

Panic on Wall Street

You've heard about the home-loan bust, but do you know your derivatives from your tranches? Read Salon's easy guide to understanding the current market freakout.

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  • Saturday, August 18, 2007 11:50 AM

    Re: Hegelian totality

    Sorry for writing twice: just read Anonymous' contribution which reminds me of Fukuyama's "end of history".

    "Capitalism has become nature - it is neither good or bad. It is the Hegelian totality, and therefore knows no outside and - as a corollary - cannot be the object of moral judgement."

    No it hasn't, and yes it can. Nature obeys inherent rules which we cannot change. Capitalism obeys man-made rules which we can rewrite as we please. The subprime crash once again shows that the rules we wrote - and can unwrite - unload risk upon the weakest shoulders and grant reward to the strongest. It doesn't have to be that way.

    The very essence of moral judgement is to regulate society, and capitalism is part of society - and not even a necessary part.

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