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However, I think the "mistakes" of the financial institutions are things that have been already built over the decades throughout the neoliberal era (over-relia
by lasagnaphil 6y ago
However, I think the "mistakes" of the financial institutions are things that have been already built over the decades throughout the neoliberal era (over-reliance on credit and the reserve currency status of the US dollar), and things are *really* past the point of no return now. You can't deny this populist event has no political consequences whatsoever and can be simply solved in the context of "finance" alone. Quite a lot of Americans already have near zero trust towards financial institutions (well, more after they were bailed out in 2008 and nothing has changed out of their risky financial practices), and it's going to be harder for finance to get a get-out-of-jail-free card this time. The era of neo-classical economics becoming the "rational", "objective" basis of governance of society is nearing to an end, since governance is ultimately not a matter of scientific truth, but a matter of the desires of the people.