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Slavoj Žižek: Ayn Rand’s ‘John Galts’ are the idiots who crashed the economy & they’ll do it again
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I had to laugh at the way Slavoj Žižek so masterfully ended his Guardian op ed piece, “Who is responsible for the US shutdown? The same idiots responsible for the 2008 meltdown.”

Žižek’s subtitle is “In opposing Obamacare, the radical-populist right exposes its own twisted ideology” and in the essay, he poses a provocative question that I’ve been wondering about a lot myself recently: “Barack Obama is accused of dividing the American people instead of bringing them together. But what if this, precisely, is what is good about Obama?”

I’d like to read Žižek—or Jonathan Chait, Brian Beutler, Alex Pareene, Michael Tomasky, Charles Hugh Smith, Frank Rich or the great Charles P. Pierce—taking on this topic in further detail once the dust has cleared.

The conclusion Žižek draws at the close, though, is simply sublime:

One of the weird consequences of the 2008 financial meltdown and the measures taken to counteract it (enormous sums of money to help banks) was the revival of the work of Ayn Rand, the closest one can get to an ideologist of the “greed is good” radical capitalism. The sales of her opus Atlas Shrugged exploded. According to some reports, there are already signs that the scenario described in Atlas Shrugged – the creative capitalists themselves going on strike – is coming to pass in the form of a populist right. However, this misreads the situation: what is effectively taking place today is almost the exact opposite. Most of the bailout money is going precisely to the Randian “titans”, the bankers who failed in their “creative” schemes and thereby brought about the financial meltdown. It is not the “creative geniuses” who are now helping ordinary people, it is the ordinary people who are helping the failed “creative geniuses.”

John Galt, the central character in Atlas Shrugged, is not named until near the end of the novel. Before his identity is revealed, the question is repeatedly asked, “Who is John Galt?” Now we know precisely who he is: John Galt is the idiot responsible for the 2008 financial meltdown, and for the ongoing federal government shutdown in the US.

Standing ovation!

Posted by Richard Metzger

 

 

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