To know the art of impressing the imagination of crowds is to know at the same time the art of governing them.

“The Crowd” by Gustave Le Bon

The market is the best information processor the world has ever known. In its perfect form, aided by government to the extent of its needs, it has led the western world to prosperity over the last 50 years. This perfect form is achieved through neoliberalism.

This is the story that champions of the market have sold to us.

I am not describing the world of laissez-faire capitalism and small government. We moved on from there after the Great Depression. If you’re over 40 today, you knew an anomalous period before neoliberalism gained a firm grip on society.

During this time it was easier, comparatively, for people to pay off a home and build a nest egg or six in the form of investment properties, share portfolios and superannuation. For most young people today, the only share they know is accommodation, super is weak and the door to home ownership has been slammed shut.