Governance in the Days of Capitalist Absolutism

(“There are known unknonws…But there are also unknown unkowns.”–Donald Rumsfeld)

“The preoccupation with derivatives forecloses debate about the worth of the underlying investment–the value or non-value of the war as a thing in itself–and shifts the discussion to the positioning of the political risk. Process, not product. Not why or to what end do we continue to kill our own soldiers (the known unknowns) as well as Iraqi civilians (the unknown unknowns), but which artful dodge stands the best chance of beguiling the voters in next year’s elections while at the same time preserving the bubble floated on the belief that America’s invincible military power serves as collateral for the $2.5 trillion debt to foreign central banks that America has neither the means nor the intention to repay.”

–Lapham, Lewis H. 2007. “Blowing Bubbles.” Harpers, November: 10.


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