Who Profits From "Biblical Capitalism"?

Published on May 19, 2008

By Jeff Sharlet When Bloggingheads TV, the website that produces those video "diavlogs" you see these days in the fold of the online NYT, told me they'd given my new book, The Family, to Will Wilkinson of the conservative libertarian Cato Institute , I was a little concerned. The elite fundamentalists about whom I write are particularly passionate about what some call "biblical capitalism," a literally religious devotion to free markets. Wilkinson, as you can imagine, is a big believer in free markets, too, and for that reason I thought he and I might have a very contentious conversation. Oh me of little faith in the wisdom of Bloggingheads. Wilkinson turned out to be an ideal respondent -- indeed, he may have understood aspects of the book better than I did when I wrote it. Most importantly, he recognized that biblical capitalism uses the veneer of free markets as a cover for the cronyism of the anointed. It's dishonest libertarianism, "self-interest by proxy," in Wilkinson's brilliant phrase -- the exact opposite of the responsible, transparent libertarianism championed by Wilkinson. You can watch the whole diavlog here, but if you're interested, I recommend using the buttons beneath our talking heads to skip ahead to the section titled "biblical capitalism." I've long since learned how to be comfortable with media, but self-produced video -- me staring at the little camera in my computer -- freaks me out, and it takes awhile for this diavlog to move beyond my 2001-monkeyish fear of new technology.

By Jeff Sharlet

When Bloggingheads TV, the website that produces those video “diavlogs” you see these days in the fold of the online NYT, told me they’d given my new book, The Family, to Will Wilkinson of the conservative libertarian Cato Institute , I was a little concerned. The elite fundamentalists about whom I write are particularly passionate about what some call “biblical capitalism,” a literally religious devotion to free markets. Wilkinson, as you can imagine, is a big believer in free markets, too, and for that reason I thought he and I might have a very contentious conversation.

Oh me of little faith in the wisdom of Bloggingheads. Wilkinson turned out to be an ideal respondent — indeed, he may have understood aspects of the book better than I did when I wrote it. Most importantly, he recognized that biblical capitalism uses the veneer of free markets as a cover for the cronyism of the anointed. It’s dishonest libertarianism, “self-interest by proxy,” in Wilkinson’s brilliant phrase — the exact opposite of the responsible, transparent libertarianism championed by Wilkinson.

You can watch the whole diavlog here, but if you’re interested, I recommend using the buttons beneath our talking heads to skip ahead to the section titled “biblical capitalism.” I’ve long since learned how to be comfortable with media, but self-produced video — me staring at the little camera in my computer — freaks me out, and it takes awhile for this diavlog to move beyond my 2001-monkeyish fear of new technology.

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