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Originally Posted by aceventura3
What I am saying is broader. Not only is the financial market developing much faster than regulators can manage that development, the market is too big, the participants too clever. The fundamental problem with regulators is that they are always in a position of being reactionary.
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Under neo-liberal regimes, sure. They created situations where there weren't enough regulators or regulation and by golly, the regulators just couldn't keep up with the dynamism of the market. It was a self-fulfilling prophecy. Once the first attacks were felt, they lopped off even more by saying that those regulators/meddlers were so darn inefficient and reactive.
The neo-liberal balderdash about gummint & markets was a smokescreen to obscure the institution of neo-liberalism. Hiding its own institution was one of the things that made neo-liberalism so anti-democratic.
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It is relevant because it is dominate.
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It was.
It's been negated in practice since last fall by the crapitalists and your man G.W. and crew -- at least before they went limp. Considering that practical negation, it doesn't really matter what is said in factless vacuoles of the superstructure.