exercises in cynicism and hope (3)
Today is Tuesday October 14th. The era of the large investment banks and excessive trading and easy credit is coming to an end. Our banks are getting partially nationalized. Senator Obama is ahead in the polls.*
Just as the Great Depression marked the acceptance of Keynesian economics and the economic stagflation of the 70s ushered in several decades of deregulation and trickle-down economics, this year’s economic crisis will shift the prevailing economic and social policies of this country.
By no means do I want nationalization of major industries** or excessive redistribution of income, but I do hope for a new era of politics that does not confer disproportionate power to large corporations, but rather encourages appropriate government regulation, and more equitable and socially responsible economic growth.
Today, I’m feeling a bit more hopeful.
(Oh, and the Phillies are one win away from being in the World Series.)
* Sorry, Palin sealed the deal. My respect for McCain has only gone down since then.
** Though I do want universal health care coverage. (I'm still Canadian!)
3 comments:
Hmm. You must be a bit disappointed in Obama's economic team. See this and this.
Yeah just a tad. I haven't followed too closely but it feels like a re-hash of Clinton. How do you feel about it?
Thanks for the links to the articles too!
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