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Democrats and the Logic of Capital

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What do liberal, progressive or otherwise Leftist detractors from the Democratic Party have in common with Wells Fargo? They both endorse deferring responsibility in the face of fucking-up.

I say Wells Fargo because that is the bank I use, but I can imagine most banks advocating what I have in mind. For as long as I can remember, Wells Fargo has been regularly offering me credit cards. On the one hand, this is not entirely out of the ordinary. On the other hand, the most frequent kind of credit-card offer I get comes with what they call over-draft protection.

The idea here is that you use more money in your checking account than you have, and instead paying a $30 or more fee the difference is sent to your credit-card and no fee is incurred. In other words, the bank, usually what we associate with financial responsibility, is encouraging you that it’s okay to be financially irresponsible. If you do not have a credit-card, the bank will usually offer a line of credit to you. This makes perfect sense too, because since you need overdraft protection, you probably do not have the minimum of financial responsibility to keep up with your credit-card charges. Even if you aren’t a complete dolt, and get the charges paid off before they get completely out of hand, the bank still wins by encouraging reckless spending, especially if you regularly don’t pay off your credit-cards before the interest actually exceeds the typical overdraft fee.

A very similar logic of deferred responsibility dictates the actions of many “conscience-voters.” Seeing the Democratic Party let them down, they do what any good consumer is knows to do: instead of demanding quality, they demand choice. Typically, the choice implied is the choice of a third-party candidate. However, some freedom of choice advocates go so far as claiming that The People cannot be served by a single party, but only by multiple kinds of representatives who account for the diversity of The People. Everyone is entitled to their very own special opinion, and by extension everyone is entitled to their very own special political representative. Even within the Democratic party this rhetoric of choice prevails: “Yeah, Obama isn’t perfect, but he’s the best choice we’ve got!”

Instead of seeking more effective forms of political organization, many liberals and progressives retreat from power, whether they blindly embrace  or blindly reject the Democratic Party. They frame either move in a rhetoric of choice that is central to liberal capitalism, which is why Republicans can and do talk about responsibility in purely economic terms. Responsibility is a value the Left should embrace for itself, except it should re-cast it in terms of political responsibility first.

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Written by Joe

September 13, 2008 at 3:03 pm

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