Friday, 19 September 2008

Capitalism in crisis?

What fascinates and frustrates me about the current global financial crisis is how the "market" is spoken about as if it is some kind of ailing person with a psyche and illness, yet we don't seem to really be able to diagnose what the problem is. The market as some kind of brooding malevolent-benevolent brooding force over us
The sub-prime casino approach doesn't seem to have provided the one thing that the markets seem to need even more than cash and that's the immaterial and intangible "confidence" or "trust"- these are values not normally quoted in numbers on the stock exchange which often have rather theological overtones.
So perhaps the world financial market needs a bit of psychotherapy to rebuild its confidence. It must be terribly difficult holding turbo-capitalism together after all.
I think I prefer to place my confidence in a dependable but fragile and vulnerable God rather than in the vagaries of a psychotic financial market.