Now blogging at diego's weblog. See you over there!

greed and materialism in the 90s


A big part of the background of American Psycho (previous entry here) is the rise of Wall Street as the definitive center of power in the world economy and the appearance of all sort of financial manipulations--the creation of money out of thin air, so to speak, but hedge funds, mergers, acquisitions and so on. It was the time of the "Masters of the Universe" depicted on the excellent Wall Street by Oliver Stone.

Now, the late 90s were, on the surface, different. "The world was going to be changed" according to what most people felt or said, and therefore the speculation, the instant millionaires and the resulting crap was somehow justified. In the new world order, everyone could, and would, be a millionaire.

Or so the excuse went.

I realize now that it was an excuse because what was being done, for the most part, was a replica (amplified) of what went on in the late 80s. In the 80s, however, there was no pretense, it was just the race for money at any cost and with no need for reasons. Money for money, Greed driving it all as the "greed speech" of Gordon Gekko in Wall Street explained: "Greed is good."

By the 90s we had "learned" to hide the greed behind a slick veneer of world-changing proclamations, and we convinced ourselves that money was a by-product, and no one talked about greed. Yet Greed it was, and nothing can prove it better than the current world-wide financial crisis (which is hanging in the balance right now, and anything --say, a war?-- might tip the balance over and make things a lot worse).

Categories: personal
Posted by diego on October 6 2002 at 7:16 PM

Copyright © Diego Doval 2002-2011.
Powered by
Movable Type 4.37