Paul Virilio on the Credit Crunch
Even though described by Sokal as “diahorrea on a page” - Virilio is always worth reading. From here
“I am not a vigilante. I do empathise with critics who say that some people have made obscene profits. I do not deny the damage caused by the accumulation of riches in a few hands. But to merely criticise this acceleration of profits and History, this “galloping avarice”, as Eugene Sue called it, while remaining in the materialist framework of profit, is a deficient, reductionist analysis.
What is happening is much more complex, and profoundly disturbing. We have gone into someting of a different nature. This economy of wealth has become an economy of speed. By the way, this is the problem the Left is currently facing. The Left is stuck in its old framework, states that capitalism is dead, and now thinks that more social justice will come about. This is a bit hasty deduction. We do really have a major problem on our plates.
If the state does not take stock of this ‘futurism of the moment’, we might well see instead a capitalism runing riot without bounds whatsoever”
