A Gilded Planet

If I held public office right now, this is the speech I would make over and over again. I would stand on every soapbox that would have me delivering this message. And I would probably be ignored or marginalized. "The official unemployment rate is nearly double what used to be considered normal just a few short years ago. And that official rate does not even include millions of underemployed and long term unemployed Americans. Years after the financial crisis, employment in this country is still deeply depressed. Not only does this mean untold hardship for millions of unemployed Americans and their families, but it is also causing permanent damage to our economy since long term unemployment damages the skills and earning power of workers forever. Given this stark reality, it is unconscionable that the leadership of this country is not doing everything in its power to end this jobs crisis now. "The saying goes that those who don't know their history are doomed to r...

I know, it's hard to believe. But contrary to what you may have presumed from constantly hearing about the hijinks of Glenn Beck, Michael Steele and Michelle "I only stopped ranting against the US Census after a census worker was murdered for doing his job in Kentucky" Bachmann, there are still serious conservatives out there making smart, intellectually honest arguments. They've just been completely marginalized. But Tyler Cowen describes one of the most disturbing trends in our polity as skillfully as any progressive: FOR years now, many businesses and individuals in the United States have been relying on the power of government, rather than competition in the marketplace, to increase their wealth...Lately the surviving major banks have reported brisk profits, yet in large part this reflects astute politicking and lobbying rather than commercial skill. Much of the competition was cleaned out by bank failures and consolidation, so giants like Goldman Sachs and JPMo...

Aside from the indispensable Ezra Klein , I don’t usually read the Washington Post because it seems to have adopted a policy of deliberately misleading its readers on its editorial page while its news section…well, the less said , the better . But the other day as I was walking into Moffitt Library, a WaPo headline caught my eye and I had to stop to see if I was hallucinating. The headline read “World's Wealthy Pay a Price In Crisis.” I blinked and rubbed my eyes in disbelief. The richest people in America were richer in 2007 than at any time since the 1920s. Similar statistics showed the same story around the world. Many economists and policy analysts further believed that the rich were the only people seeing real income gains from growth across the entire economy for many years before the recession. Since the recession began, I understand that the rich became slightly poorer than before. Instead of being unimaginably wealthy, they are now only obscenely wealthy. But...