Dark Age America: The End of the Market Economy | John Michael Greer

Nov. 5, 2014 (Archdruid Report) -- One of the factors that makes it difficult to think through the economic consequences of the end of the industrial age is that we’ve all grown up in a world where every form of economic activity has been channeled through certain familiar forms for so long that very few people remember that things could be any other way.

Another of the factors that make the same effort of thinking difficult is that the conventional economic thought of our time has invested immense effort and oceans of verbiage into obscuring the fact that things could be any other way.

Those are formidable obstacles. We’re going to have to confront them, though, because one of the core features of the decline and fall of civilizations is that most of the habits of everyday life that are standard practice when civilizations are at zenith get chucked promptly into the recycle bin as decline picks up speed. That’s true across the whole spectrum of cultural phenomena, and it’s especially true of economics, for a reason discussed in last week’s post: the economic institutions and habits of a civilization in full flower are too complex for the same civilization to support once it’s gone to seed.

The institutions and habits that contemporary industrial civilization uses to structure its economic life comprise that tangled realm of supposedly voluntary exchanges we call “the market.” Back when the United States was still contending with the Soviet Union for global hegemony, that almost always got rephrased as “the free market;” the adjective still gets some use among ideologues, but by and large it’s dropped out of use elsewhere. This is a good thing, at least from the perspective of honest speaking, because the “free” market is of course nothing of the kind. It’s unfree in at least two crucial senses: first, in that it’s compulsory; second, in that it’s expensive.

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