Greider: prevent institutionalization of the corporate state | 27 comments (27 topical, 0 editorial, 0 hidden)

Institutionalization of the corporate state (4.00 / 2)

Good related article by Simon Johnson in the Atlantic:

Looking just at the financial crisis (and leaving aside some problems of the larger economy), we face at least two major, interrelated problems. The first is a desperately ill banking sector that threatens to choke off any incipient recovery that the fiscal stimulus might generate. The second is a political balance of power that gives the financial sector a veto over public policy, even as that sector loses popular support.
Big banks, it seems, have only gained political strength since the crisis began. . . .
. . . the power of the oligarchy is just as important as the immediate crisis of lending. And the advice from the IMF on this front would again be simple: break the oligarchy.

by TGeraghty on Sat Mar 28th, 2009 at 11:56:59 PM EST

Re: Institutionalization of the corporate state (none / 1)

Hey TGeraghty - good to see you around! (Though it has been me not around...). Hope to see some more of your great posts - you have always provided important perspectives (like this one). I have been hearing a lot about this Simon Johnson - will have to read of his stuff. Thanks!

"Once in awhile we get shown the light, in the strangest of places, if we look at it right" - Hunter/Garcia

by whataboutbob on Sun Mar 29th, 2009 at 05:07:32 AM EST
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Re: Institutionalization of the corporate state (none / 1)

There's been some discussion of Johnson's article here and here.

by afew (afew(a in a circle)eurotrib_dot_com) on Sun Mar 29th, 2009 at 05:19:05 AM EST
[ Parent ]

Greider: prevent institutionalization of the corporate state | 27 comments (27 topical, 0 editorial, 0 hidden)