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The Vanishing Middle Class: Prejudice and Power in a Dual Economy

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Peter Temin

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“Burke's complaint against the [(French)] revolutionaries was that they assumed the right to spend all trusts and endowments on their own self-made emergency. Schools, church foundations, hospitals - all institutions that had been founded by people, now dead, for the benefit of their successors - were expropriated or destroyed, the result being the total waste of accumulated savings, leading to massive inflation, the collapse of education and the loss of the traditional forms of social and medical relief. In this way contempt for the dead leads to the disenfranchisement of the unborn, and all that result is not, perhaps, inevitable, it has been repeated by all subsequent revolutions. Through their contempt for the intentions and emotions of those who had laid things by, revolutions have systematically destroyed the stock of social capital, and always revolutionaries justify this by impeccable utilitarian thinking.”

“The West’s adversarial political system, in which all manner of decisions were made by majority rule, was little more than a refined version of civil war, replacing one form of coercion (fighting) with another (voting).”

“For all the enlightened nations that profess a loyalty to liberty, democracy, economy and all the rest, there has long been a readiness to look for a chosen one; as Carlyle pointed out, even the French, those great anti-venerators, those relentless beheaders of Great Men, worshipped Voltaire.”

“He walked out into the night, thinking languageless thoughts...He ran suddenly across a street. At night, he knew, there could be the belief that something never before felt might be felt, something new. You could allow yourself quite easily this view of the world--this thrilling, midnightly faith--of there being something out there that loved you, that, at night, worshipped and searched for you, like a past life seeking its next, wanting desperately the continuation of itself. And though it would probably never find you, it would also, you believed at night, never give up, and this was enough--that something was out there and desperate and on its way.”