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Theoretical and Applied Economics
No. 1 / 2011 (554)

The Circularity of Ideologies

„"Too big to fail" became, through the channel of ideology, the antinomic expression of the free market theory.”

The true turbulences with which the idea of crisis has been associated don't belong as much to the eminently irrational behavior of the financial markets, as they do to the attempt of making heard the ambitions of imposing of one ideological vision or the other. From the libertarian over-excitement with regard to the millennial wonders of the market to the most perverse interventionism of the top-down change, almost all variants of political ideology exhibited their exaggerations in the form of promises to bring us out of the crisis. These, though, have been driven only by the cause of maintaining power through the overuse of perverse forms of market control. There is no doubt that the panic induced by the crisis was and continues to be associated with the stretching to the limit of the prevalent positions around the circuits of wealth.

It is worth mentioning that the higher visibility of ideological projections, to the detriment of those economical per se, could represent one proof of the behavior of ideologiesby which they must not assume the guilt for starting the crisis. If it can be this way (and it is obvious that all the conditions are met for it to be possible!) the opportunity for maximizing gains cannot be missed by the political ideologies. The costs are supported only by the economy. Certainly this situation points to the fact that in the post-crisis things will still be arranged according to the pre-crisis model.

The most revealing clue of this evolution is the transformation of the appeal for socializing losses into a behavioral leitmotif, as opposed to respecting the laws of the free market game. Thus, the cancerous growth came to be the savior of counter-performance. The dimension above natural limits of some functional structures of the economy (such as banks or strategic enterprises) has become the argument directly derived from the logic of the faith in the infallibility of all that which exceeds normal measure.

"Too big to fail" became, through the channel of ideology, the antinomic expression of the free market theory. That this refrain happens in a place where not so long ago it was considered inconceivable does not seem to raise any worries.

We can find here the well dissimulated goal for which the crisis transforms into an argument against a change in the order of things: the very force which is interested in reproducing the crisis is allowed to be the one tasked with ending the crisis. In fact, the opportunity of maintaining the ideology functional resides in the double possibility at hand: either to prolong the crisis as much as possible, or to prepare the seeds for the comeback of the crisis as fast as possible.

Although it seems like something pertaining to the absurd, we must not be deterred in recognizing that the most valuable specialty of ideologies is to border the absurd. The guaranty of this consequence is the stark option of any ideology for pushing the alternative into the derisory. The solution of an ideology is constructed to be unique and its singularity is unavoidable. The fundamental methodological reductionism of ideologies is especially due to this exclusivism of solutions, the very germinating bed of crises of all kinds, economical ones in particular.

The substratum to this puzzling state of fact resides in the conversion of wealth into the secret ammunition of the weapon of power, which is used to mass-exterminates the diversity of solutions. It is an unexpected way of rationalizing human action not only in its economical component, but also in the one belonging to ideas.

The democratic scaffolding often becomes, in times of crisis, so frail against the natural weight of diversity that - in the name of economic rationality - all economic principles are annihilated and the fulgurant values of ideologies are the ones being put to use. The present crisis is the kymographic case of illustrating the triumph of ideological simplification in an absolutist manner, likened to "the end justifies the means", as such that where the option for the fairness of the market seemed obvious, the option for political correctness manifested itself instead, made to reason against the logic of the market.

The reason for liquidation, offered by the market as a sanctioning of counter-performance, has been nullified by the reason of the non-economically offered liquidity, without parity, as a bonus for performance realized outside the market.


The Circularity of Ideologies
Marin Dinu

Open acces




The Economicity. The Epistemic Landscape, Marin Dinu, 2016


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