77 online
Most Popular Choices
Share on Facebook 13 Printer Friendly Page More Sharing
Exclusive to OpEd News:
OpEdNews Op Eds   

The Money Debate

By       (Page 1 of 1 pages)   2 comments

In the aftermath of the smackdown between Jon Stewart and Jim Cramer, a lot of valid points have been made about the larger implications of the debate. Two of Stewart's criticisms of Cramer,  "It's not about you," and, "It's not a game," are particularly important.  Stewart's point was that there are real life implications when the "players"- screw over the rest of us, and that Cramer is a poster child for the amoral manipulators of money who deliberately game the system for personal profit. Cramer is a particularly good candidate since his posturing as a helpful advocate for public understanding of the markets is coincident with his well-documented contempt for playing by the rules.  Ironically, his example is useful in confirming the public suspicion that the Bernie Madoffs, the Enron thieves, the short-sellers who drive down values by selling stocks they don't even own, and the high-priced brain trust of corporate America that creates financial "instruments"- which are designed to obscure accountability, are more the rule than the exception.


We would do well to remember that ownership, and the economic structure that grows from it, is an intellectual construction, not a natural reality.  The land I "own" is not mine as some sort of divine endowment; it's "mine"- because I live in a society that has agreed to a lot of complex conventions that allow me to claim title to it.  I trust others to honor the contract, and they trust me to do the same. Trust was the moral dimension of economics that allowed our fathers to do a lot of business based "on a handshake."  Today, the structure looks somewhat the same, but the trust is gone, and the regulation and monitoring that will have to replace it are not there.

Well Said 1  
Rate It | View Ratings

Donald De Fano Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

I am a retired boatbuilder with a fascination for political thought. Most of my life I cheerfully described myself as an "eastern establishment, knee jerk, liberal Democrat."
Go To Commenting
The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.
Writers Guidelines

Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
Support OpEdNews

OpEdNews depends upon can't survive without your help.

If you value this article and the work of OpEdNews, please either Donate or Purchase a premium membership.

If you've enjoyed this, sign up for our daily or weekly newsletter to get lots of great progressive content.
Daily Weekly     OpEd News Newsletter
   (Opens new browser window)

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

Capitalism and Health Care

Corporate America's Secret Weapon: Socialism

Follow the Money

The Occupation is the Message

A Pol Meets a Senator

A Case Study: Dawn E. Johnsen

To View Comments or Join the Conversation:

Tell A Friend