Why We Love to Hate the Wolf (of Wall Street): Using Georges Bataille and Friedrich Nietzsche to Critique the Function of Moral Ideology Under Late Capitalism

The release of Martin Scorsese’s film The Wolf of Wall Street in late 2013 helped to reignite a public conversation about corporate greed and the moral excesses and violations of Wall Street firms and executives. A barrage of articles, reviews, and criticisms of the film emerged throughout popular media that sought, for the most part, to single out and condemn the immoral actions and behaviors of individuals (for example, Jordan Belfort, whose actions constitute the primary subject matter of the film) within a pre-given and non-negotiable context of capitalist economic and social relations. This article uses the writings of Georges Bataille and Friedrich Nietzsche to critique this popular discourse. It reads the discourse as structured by a false identity of opposites, whereby the normal, moral, legal, and “peaceful” state of things is depicted as constitutive of a separate world from that of Belfort and the “criminal” excesses and expenditures of Wall Street. As a result of this conceptual maneuver, a mode of moralizing is enabled. In a fit of ressentiment, critics unleash their moralizing sentiments, single out and constitute guilty subjects, and hold these subjects responsible in order to repair the “secondary malfunctions” of capitalism. They do this so that capitalism can continue to survive and so they can have a good conscience while it does.