Markets are interested in profits and profits only; service, quality, and general affluence are different functions altogether. The universal, democratic prosperity that Americans now look back to with such nostalgia was achieved only by a colossal reigning in of markets, by the gargantuan effort of mass, popular organizations like labor unions and of the people themselves, working through a series of democratically elected governments not daunted by the myths of the market.
Thomas FrankIn the last James Bond movie, the villain was a culture captain, a tycoon of culture, a Murdoch figure. It's not as if people don't know what is going on.
Thomas FrankIn the subprime mortgage industry, bankers handed out iffy loans like candy at a parade because such loans meant revenue and, hence, bonuses for executives in the here-and-now.
Thomas FrankThese days, of course, the focus of talk about popular liberation through products is mostly associated with the Internet. I've been collecting computer ads and ads dealing with Internet industries.
Thomas FrankConservatives may believe that impoverished borrowers destroyed Wall Street. But we liberals will not fool ourselves that stupid bankers sank conservatism for good.
Thomas Frank