When Integrity Dies

Today's title is a riff on When Money Dies: The Nightmare of the Weimer Hyperinflation by Adam Fergusson, which was published in 1975. Author Frederick J. Sheehan recently drew some interesting parallels between Germany in the early 1920s and contemporary America in Weimar Angst and the United States Today.

Some characteristics of Weimar Germany are apparent in the United States. Parallel observations are sometimes less than they appear (e.g., in both cases, the people enjoyed eating meat), but are striking. The German incident happened over four years (also arbitrary. It can be argued that any year from 1914 to 1921 was the point of departure.)

Similarities to the U.S. have been in motion for 30 years or so. These include:

a high concentration of wealth among those who leverage [i.e. those who exert great influence or power, e.g. the banks]

the middle- and lower-classes falling behind, but not understanding or knowing it (or, knowing it but not allowing themselves to think about it)

the rise of a gambling culture

including financial speculation on the stock exchange, which spread to all ranks of the population [as in the Tech/Nasdaq bubble]

the blossoming of a financial industry, with quantity crushing quality (Weimar bank tellers became financial advisers since most people were at a loss, and would take any advice, which was often horrible, but probably well-intentioned)

the "striking displays of luxury beside poverty" (quoting Fergusson)

a "growing lack of concern for one's fellow man" (the difference between greed and the attempt to survive is blurred)

values are distorted, in both senses, the one feeding the other: a wife selling her husband's gold watch for four potatoes

the quality of goods (and services) collapses (an evolution with consequences to morale and personal dignity)

the denial by the central bank that it is in any way attached to the inflation

As lists go, this one is pretty good. Obviously, comparisons of Weimer and America will inevitably breakdown. That said, Sheehan has done a good job of identifying trends characterizing a society which has lost its integrity, which has these meanings—

adherence to moral and ethical principles; soundness of moral character; honesty
the state of being whole, entire, or undiminished: to preserve the integrity of the empire
a sound, unimpaired, or perfect condition: the integrity of a ship's hull

I have touched on a number of these themes, but was particularly struck by #2 and #7 , which are central tenets of this blog—

#2 - the middle- and lower-classes falling behind, but not understanding or knowing it (or, knowing it but not allowing themselves to think about it)

#7 - a "growing lack of concern for one's fellow man" (the difference between greed and the attempt to survive is blurred)

These are concise statements of what's going on in this country, which I have likened to a giant game of Survivor (the TV show, in its many popular incarnations).

Sheehan gave us this list in a context of hyperinflation, which can be defined as a total loss of faith in the currency (the dollar). I don't think this is a likely outcome in the United States, at least in the foreseeable future. Looking around, it appears that the winner is stagflation similar to what we experienced in the late 1970s. Thus we have a wrecked economy combined with rising inflation, especially in food & energy. This may change. We will have to await future events before we know what the outcome will be.

But there is no similar uncertainty about the evolution of American society. Once High & Mighty, we are now Fallen. Once a society loses its vitality, wholeness and character, and its ability to discern Right from Wrong—even its ability to care about that distinction is lost—that society is doomed. America is now a waning Empire, its best days behind it.

Once lost, integrity is gone forever. When integrity dies, it's all downhill from there. That's the bad news.