Over at TCS Daily is an article that ponders the question, “why are there still so many Socialist when Socialism has been such a dismal failure?”. The author believes that is because Socialism offers a myth, in the old style, for its followers. I find this compelling, because it is the same view I have taken in the past, that the true purpose of the resulting activism is all about the internal psychological results and not about the external reality results. This is not the same thing as Logo-Realism but Logo-Realism is a big help in re-enforcing this dynamic by providing the illusion of results.
The author also states that free market capitalism is at a severe disadvantage as long as it doesn’t have its own myth. That is a point on which I disagree, and I think it speaks directly to American exceptionalism and helps answer the question why It didn’t happen here.
The counter-vailing American myth is that of the self-made man, the pioneer who builds up himself, his family, and his community through his own effort and sacrifice. We have the Cult of the Maker, which venerates those who make and do, those who break out of the crowd and achieve beyond the average. And this seems to me to be the correct myth for capitalism, which is a means, not an end. The end is creating a society in which the Maker can make and so far liberal / capitalisistic democracy is the best structure we know for doing so.
P.S. Some other good comments at Winds of Change.