01 February 2009

Valorisation Fever (or, Is and Ought Fallacy)

val·or·ize (vl-rz)
tr.v. val·or·ized, val·or·iz·ing, val·or·iz·es
1. To establish and maintain the price of (a commodity) by governmental action.
2. To give or assign a value to: "The prophets valorized history" Mircea Eliade.


Valorisation fever has infected the western world. Everyone and his dog thinks that they know what the price of something should be, usually in opposition to what the market says it is.

The fever has made people delirious: we hear comments from politicians saying that the market has failed (sic). Further, people allow the same politicians to sell them and their children into debt bondage for years and years so that they can valorise some price.

Incredible.

If a bank can't repay its loans it has no value. It isn't worth anything. Is this obvious to only the market and I? The market is working perfectly.

As a plenary, here's The Fall with 'White Line Fever', I hope you regard it as apt.

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