from Peter Radford
“the rotten economics that brought us the crisis has not been purged”
With the US immersed in one of its weekly presidential elections – they seem to be that frequent – nothing substantial can be done about our malaise. No one wants to do anything for fear of inciting a tsunami of attack ads, venomous deformations of the truth, and contorted definitions of what is actually going on. Too much is at stake for anyone to make a move. So we drift instead. This is more a function of the extraordinary divide in our politics than it is of the electoral system itself, but it is, nonetheless, the primary cause of our problems. While we clearly have an ideological battle being waged within economics, it pales by comparison to that in our politics. Until one side or the other emerges victorious, or at least sufficiently dominant to do what it proposes, we will be stalled. That, I think, could take a decade or more.
The only person in Washington to talk much about our problems this week was Read more…
Al Jazeera –full review
Fullbrook’s book reminds us that there’s a rational order in the world – that countries can learn from one another’s experience in tackling social problems and challenges, and that by striving to match what already works elsewhere, they can make their own countries better.
The green line shows what would have happened to the national debt if Reagan and the Bushes had balanced their budgets as Reagan claimed he would. For more information go to http://zfacts.com/p/318.html