Thursday, October 27, 2011

"Important Ideas Have Been Discovered—or, Rather, Rediscovered"

Mark Thoma commenting on John Cassidy's article on Keynes, link.

Paul Krugman commenting on Thoma and Cassidy in The Amnesiac Economy.

And then I read Andrew Sullivan writing about how he learned to love the "hippies" of Occupy, link. Sully says some sensible things:

The theme that connects them all is disenfranchisement, the sense that the world is shifting deeply and inexorably beyond our ability to control it through our democratic institutions. You can call this many things, but a “democratic deficit” gets to the nub of it. Democracy means rule by the people—however rough-edged, however blunted by representative government, however imperfect. But everywhere, the people feel as if someone else is now ruling them—and see no way to regain control.
This could have been written in 1931. It isn't only economists who have forgotten. Activists, commentators, and political scientists have forgotten, too.

I wonder if Occupy remembers?

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