But “the market” – like “dialectical materialism” – is just an abstraction: at once ultra-rational (its argument trumps all) and the acme of unreason (it is not open to question). It has its true believers – mediocre thinkers by contrast with the founding fathers, but influential withal; its fellow travellers – who may privately doubt the claims of the dogma but see no alternative to preaching it; and its victims, many of whom in the US especially have dutifully swallowed their pill and proudly proclaim the virtues of a doctrine whose benefits they will never see.

Tony Judt, from The Memory Chalet