Where next for Occupy Wall Street? Conspiracy theory and the financial crisis

There has clearly been a concerted effort by a wealthy elite to bring us to our current state of pla

Conspiracy theorists have long said that the financial crisis is not a failure of regulation, of taking the eye off the ball, but rather a Machiavellian exercise that has been implemented over many years by free market liberal capitalists, wanting to erase the state and let the market work its wonders.

I want so badly to believe that it wasn't planned, that it was simply stupidity, lack of leadership and a too-big system out of control. But two events last week have finally brought me closer to believing the conspiracy brigade. First was the shocking admission from a City trader on the BBC that "Goldman Sachs rules the world", which rapidly went viral on the internet for its sheer bold-faced honesty. Even the conspiracy theorists thought it was a yes-men stunt, and couldn't possibly be true.

But the exposure of a secret letter from the European Central Bank to Berlusconi -- in which they press for action to privatise public services and overhaul the unions in order to "restore the confidence of the markets", was the final bit of evidence that convinced me.

Of course, I wasn't naïve. I knew that free marketeers were trying to dismantle the state and take over everything -- I just didn't think that it could be so well-mastered and designed, by campaign strategists of the highest order.

As a campaigner, I know when we plot a campaign strategy, its important to take the long-view. We design the opening up of political space through mobilisation and other tactics, and we build in opportunities to take advantage of key political moments. We make sure we identify and inform allies on the inside. And hopefully, after a few years, we will have won our case. But whereas the campaigns I have worked on are about fighting for human rights and the environment, the free marketeers' campaign was to overturn a system that values public goods over private enterprise, replacing it with one that values the wealthy and sees the poor as entirely expendable. Whereas the former might be based on a three or five year horizon, theirs had a 50 + year timeline. And it's finally coming to fruition on a global scale.

You can imagine Milton Friedman and a few other men sitting around a smoke-filled room at the Chicago School of Economics, back in the late 1960s, mapping out a political future with a severe global crisis at just the right moment, so that their dream of a state-free-future would become a reality. "Let's pick a country to start out with and learn some lessons," they might have said. So they started with Chile in the 1970s, pitching themselves as economic experts, and advising then dictator Pinochet to cut public spending and let the corporate sector takeover. No matter that the result was inflation of 375 per cent and 30 per cent unemployment, while eradicating the middle classes.

"This is the pain they have to endure" Friedman and his cronies said at the time. "We'll need a few more countries to strengthen our power," they might have strategised in the review a few years later, in the same, presumably smoke-filled room.

Throughout the 1980s, they worked their way through a few more developing countries as an experiment (for these colonial outposts were easy to sacrifice), as their disciples spread into the Bretton Woods institutions and beyond. They implemented their "lessons learned" (prioritise debt repayment, strip assets, privatise public services, increase wealth for the few).

"We'll need to have more influence," they would have agreed, as they infiltrated the right and the left alike -- the US Republicans and Democrats, the Conservative and Labour parties over here -- ensuring that their economic and policy advisors went through a constant revolving door with big business. They would put forward their advocates in every aspect of political and monetary policy. Now we see "expert" groups comprised of ex-Goldman Sachs bankers in Europe informing regulations on the finance sector.

And when they thought about mobilising, they could do no better than the Tea Party and its various incarnations, not to mention the long-standing think-tanks that celebrate "free enterprise", like the Adam Smith Institute or its US-based cousin, the American Enterprise Institute.

So, decades later, many of the original campaigners now long gone, you can see their offspring enjoying a whisky, a round of golf, a ride on their yacht, toasting their success. The master plan is finally taking hold in the US and Europe, the global economic crisis almost certainly a design of their cadre's original making.

Is it all a conspiracy? Chaos theory, of course, is a counter-balance to this line of thinking, but the point is, in fact, moot. There has clearly been a fairly concerted effort by the hands of a wealthy elite to bring us to our current state of play.

The question is, do we simply accept their interim victory as a fait accompli? Or can we learn from their lessons? Like any real campaigner, I'm not prepared to accept defeat, even one of this magnitude. I'm inspired by the Occupy Wall Street movement taking off in the US, but simply showing dissent isn't enough. Let's learn from the right. We now need to take a long-term, strategic view, mapping out not just what we don't like and want to change, but also who we need to influence, and precisely how.

This is not a short-term project. But the sooner we do this, the more likely we will, in our old age, still be enjoying public services, watching our children have access to education, drinking clean water under green trees and a clean sky, and looking back on a campaign well fought and well won.

Deborah Doane is the Director of the World Development Movement

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How did I, obsessed with non-places, not know about the Trafford Centre?

My wife had booked us all in to a showing of the latest Bond film at the IMAX Cinema at the Trafford Centre. “Why the Trafford Centre?” I taxed her. She looked at me as if I were a complete ass, but refused to enlighten me. 

Last year I bought a copy of J G Ballard’s last novel, Kingdom Come, a dystopic tale of the near future in which bored suburbanites descend into anomic violence as they retreat inside a giant shopping mall. Predictably, I bought my copy at the Bluewater shopping mall in north Kent, on the outskirts of London. Bluewater held the title of Britain’s biggest shopping mall for a number of years and it is surpassing large: a huge circular corridor that has become a destination. I asked a police officer where the Waterstones was and discovered she was a good old-fashioned bobby-on-the-beat – her beat having been, for seven years, to walk slowly around and around . . . Bluewater.

But I wasn’t fettered by Bluewater’s surly gravity, any more than I was galvanised by rampant consumerism. Novel purchased, I took a cab over the soaring Queen Elizabeth II Bridge to Essex, where I alighted at Bluewater’s twin establishment: the Lakeside shopping mall in West Thurrock. I headed for the Lakeside branch of Waterstones, where I . . . well, you guessed it: I returned my copy of Kingdom Come. This surreal little exercise was undertaken for the BBC Radio 4 documentary Malled: Sixty Years of Undercover Shopping, and I’ve detailed it here purely in order to illustrate this point: I have more than a passing interest in shopping malls.

This is why the events of a fortnight ago, when Family Self went up to Manchester for what is termed, I believe, a “city break”, seemed quite so bizarre. My wife had booked us all in to a showing of the latest Bond film at the IMAX Cinema at the Trafford Centre. “Why the Trafford Centre?” I taxed her. “It’s in Trafford, which is five miles from the city centre.” She looked at me as if I were a complete ass, but refused to enlighten me. My revelation came later, when we were wandering the rococo halls of the Trafford Centre, marvelling at the lashings of gold leaf applied to the serried columns as our soles slapped on the Italian marble flooring. My wife couldn’t believe that one such as I, obsessed by what the French philosopher Marc Augé has named “non-places”, didn’t know about the Trafford Centre.

But I didn’t – it was a 207,000-square-metre hole in my map of the world. I knew nothing of the bitter and protracted wrangling that attended its inception, as successive planning applications were rejected by ever higher authorities, until our Noble Lords had to step in to ensure future generations will be able to buy their schmutter at TK Maxx and then sip their lattes at Starbucks without having to brave the harsh Lancashire elements. Did I feel small as my savvier spouse led me through these storied halls? You bet your waddling, wobbling, standing-still-on-the-travelator bum I did. How could I not have known about the great central dome of the Trafford mall, which is bigger – and statelier – than that of St Paul’s? How could I have been unaware of the Orient, Europe’s largest food court, with its seating for 1,800 diners, served by a plethora of exciting outlets including Harry Ramsden’s, Carluccio’s and those piquant bun-pushers, McDonald’s?

Actually, the Orient completely bowled me over. The Trafford Centre’s imagineers point to the nearby Manchester Ship Canal as influencing this wholly novel and utterly weird space, which is formed by a sort of Möbius strip of 1930s ocean-liner design, being at once superstructure – railings, funnels, tables arranged to simulate the deckchairs on a sun deck – and interior. However, nothing like this ever cruised by Runcorn. Not that I object to this, any more than I objected to the cluttered corridor full of orientalism – noodle bars, sushi joints, all-you-can-eat Chinese barbecues – that debouched from it and led us back into the weirdly glistering main retail areas, with their ornamental griffins and neoclassical columns bodged up out of medium-density fibreboard.

The Trafford Centre’s imagineers also make great play of design features – such as the aforementioned griffins – that are meant to tie the humongous mall to its hinterland (these are the heraldic symbols of the de Traffords, who used to own hereabouts), and to the north-east’s proud industrial heritage. But this is all ornamental balls; the truth is that the Trafford Centre’s ambience is so sumptuously wacky, it could quite reasonably be twinned with Las Vegas.

While the rest of the family went in search of retail opportunities, I watched the Mancunians process. It occurred to me that if there were any influences at work here – besides the Baudrillardian ones of hyperreality and simulation that underpin so much of the contemporary built environment – it was the presence of a large British Asian community. The only people who didn’t look out of both place and time, wandering about among all the gilded pomp and crystalline circumstance, were women wearing saris, shalwar kameez and burqas. Tracksuit bottoms and hoodies just didn’t cut it – although, I concede, come the breakdown in civil society anticipated in Kingdom Come, this pseudo-sportswear will come into its own as the perfect pillaging outfit.

Next week: Lives of Others

Will Self is an author and journalist. His books include Umbrella, Shark, The Book of Dave and The Butt. He writes the Madness of Crowds and Real Meals columns for the New Statesman.

This article first appeared in the 26 November 2015 issue of the New Statesman, Terror vs the State