Asset inflation as the principal source of wealth corrodes character

Screen Shot 2014-04-02 at 00.05.06It not only undermines the traditional bourgeois virtues, writes Dalrymple. It

makes them ridiculous and even reverses them. Prudence becomes imprudence, thrift becomes improvidence, sobriety becomes meanspiritedness, modesty becomes lack of ambition, self-control becomes betrayal of the inner self, patience becomes lack of foresight, steadiness becomes inflexibility: all that was wisdom becomes foolishness. And circumstances force almost everyone to join in the dance….[It] is not an economic problem only, or even mainly, but one that afflicts the human soul.

(2009)

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