A Bottom-Up Solution to the Global Democracy Crisis

By: Tuesday September 23, 2014 6:40 pm

Before the “no” vote on Scotland’s independence, The New York Times, carried a post by Neil Irwin in the Upshot making the point that the then upcoming vote “shows a global crisis of the elites.” He argues that the independence drive reflects “. . . a conviction — one not ungrounded in reality — that the British ruling class has blundered through the last couple of decades.” He also thinks that this applies to the Eurozone and the United States to varying degrees, and is “. . . a defining feature of our time.”


Letting the Rich Take All The Money

By: Sunday September 14, 2014 11:15 am

Someone should think about how we can make life better for everyone, even if it means the rich don’t get all the money.

FDL Book Salon Welcomes Dean Baker, Getting Back To Full Employment: A Better Bargain for Working People

By: Sunday January 19, 2014 1:59 pm

In 2009 there was the Keynesian moment. With the economy shedding hundreds of thousands of jobs a month, with the financial system imploding and GDP crashing, the US government stepped in with a stimulus bill designed to get spending started, to boost the states, and to invest for the long-term. At a spending level nowhere near the challenged, President Obama still managed to oversell what it would deliver. By 2010, with unemployment still high, Democrats would silently walk away from the entire endeavour.

This lead to the counter-Keynesian assault of 2011-2012, politically lead by the Tea Party in Congress.

Endorsing Social Security Cuts Gives Politicians the “Elite Bonus”

By: Friday October 26, 2012 9:41 am

Basically, Dean Baker implies that a stance of defending Social Security lowers your campaign contributions and labels you as “unserious” in major media. You can see this in the Washington Post’s endorsement of President Obama, mainly because he “understands the urgency of the (deficit) problems as well as anyone in the country and is committed to solving them in a balanced way.” They almost entirely based their endorsement on the likelihood of Obama reaching a deficit deal over Romney. And the Post ed board describes that “balanced way” as a combination of “entitlement reform and revenue increases.” There’s really no greater avatar of the DC elite mindset than Fred Hiatt’s scribbling crew.

Signposts of Democracy: How Americans Get Taught About the Political System They Have

By: Monday October 1, 2012 11:28 am

I’ve tried really hard to avoid this brouhaha over Conor Friedersdorf’s article on why he refuses to vote for Barack Obama. It’s probably generated far more discussion than it merited, since it amounted to an unsurprising statement of support for a libertarian candidate from a right-leaning civil libertarian. That liberals pounced on it as an example of Naderite perfidy, though the circumstances are quite different, is something that I found revealing of liberals, and this post can stand in for my thoughts there.

Ruling Class Shows No Effects of Physiological Stress

By: Tuesday September 25, 2012 9:35 am

It turns out that the myth of high-stress positions of power is unfounded. Our lords of industry, our masters of the universe get along just fine. And if you had the benefits of a golden parachute to fall back on with none of the threats of accountability for your performance, you would too.

Rules of the Fiscal Cliff

By: Sunday September 16, 2012 5:36 pm

1st RULE: You do not talk about FISCAL CLIFF.

Niall Ferguson Has a Sad About Liberal Bloggers

By: Tuesday August 21, 2012 5:00 pm

The Niall Ferguson Newsweek saga has moved swiftly from tragedy to farce. After getting called out for numerous factual errors in his cover story on his opposition to Barack Obama’s re-election, Ferguson has now struck back with a broadside against the messenger, specifically “liberal bloggers,” who had the temerity to point out his mistakes.

The Bad Faith of the Elites

By: Thursday June 21, 2012 12:14 pm

The New York Times allowed Matthew Bishop to write its review of Paul Krugman’s new book, End This Depression Now! Mr. Bishop is The US Business Editor and New York Bureau Chief of the Economist, a very serious paper. Mr. Bishop himself is a Very Serious Person, although he doesn’t seem to understand the point of that term, and he takes umbrage

How Political Elites Narrow Economic Choices

By: Monday June 18, 2012 2:00 pm

Tyler Cowen, a conservative economist who’s very good when it comes to finding a good restaurant, is further off base in this editorial, where he attributes the lack of expansionary fiscal policy to “broken trust.” You could write a book about the loss of faith in institutions and particularly the government; actually, Chris Hayes has (which allows me to plug the FDL Book Salon I’m moderating with Chris on Wednesday afternoon!). But Cowen misses the point.

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