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The Wisdom of Property and the Politics of the Middle Classes

Jan Toporowski

Abstract


At the end of the twentieth century, while financial economists satisfied their intellectual pretensions to useful knowledge by conjuring up visions of a world peopled with materialistic consumer-investors optimizing rationally in accordance with their willingness to hazard their wealth, the propertied classes themselves were succumbing to new delusions fostered by the financial markets. The reasoned response of propertied individuals to their experience of the world of speculative finance has created a new political culture with important consequences for the political economy of capitalism

Keywords


Political Economy

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DOI: http://dx.doi.org/10.14452/MR-062-04-2010-08_2

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