I reposted my contributions to this thread on my blog:

http://juliohuato.wordpress.com/

And I added this postface:

I will end this post by conceding to Doug that, his belief that — for
whatever reason (because they are “well defined” or whatever) —
private contracts are more binding than public programs enacted and
“funded” by Congress to provide a social safety net is a belief that
seems to be shared by a lot of Americans (aside from the fact that
legal casuistry matters, for as long as people abide by the law).  To
that extent, Doug is indeed talking of the world we live in, because
the fact that people massively believe the story turns it ipso facto
into a harder-wired social reality, whereas the notion that all
financial assets are contingent and represent merely ways in which
societies reshuffle the wealth that they produce  may be a theoretical
notion incomprehensible to most Americans right now and, hence, not
real.

But if now — when a triple-whammy combo is shaking U.S. capitalism
(the crises of the economy, the environment, and U.S. hegemony) — is
not the time for the critics of capitalism to emphasize the fluidity
or plasticity of social forms, then when?
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