Summary of Slavoj Zizek's First As Tragedy, Then As Farce

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#1 The 2008 financial meltdown was a clear example of how expectations are part of the game, and how the market reacts not only to how much people trust an intervention, but also to how much they think others will trust them.

#2 The bail-out plan was met with Republican resistance because it seemed like class warfare: Wall Street versus Main Street. Why should we help those on Wall Street who were responsible for the crisis, while asking ordinary mortgage-holders on Main Street to pay the price.

#3 The bail-out plan is socialist in its aims, but it is acceptable because it helps capitalism stay afloat. Meanwhile, those who resist the bail-out are doing the wrong thing for the right reasons.

#4 The only way to create genuine prosperity under capitalism is for the rich to get richer, which means the only way to help the poor is to help the rich get richer. This is the only form of intervention needed.

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Ebook: 18 Juli 2022