The news cycle is a little dictator. Constantly streaming forth stories, facts, opinions, statistics. A thousand linear streams of thought. I appreciate so much how I can throw a topic out there and you bring your comments and take discussion to a deeper level.
I am reading Yves Smith’s Econned. The subtitle is “How Unenlightened Self Interest Undermined Democracy and Corrupted Capitalism.” So far, through the first three chapters, she runs through some of the history of recent (last 50 years) economic thought and how mainstream economists have been captured by their models, academic rituals and scientific wannabe-ness. I will write more on the book but my first impression is that you can add most economists to the top Wall Street predators and Washington power brokers doing us no favors.
Two interesting summaries of the recent statistics/developments in the economy are here and here. This is serious business. There is a contraption ticking. Our financial markets are Improvised Explosive Devices. The Geithner/Summers/Bernanke team are turning their wrenches and stripping the bolt head.
I looked at running for Congress, just to see about stirring up some real debate in a political process. Of course, nominating for the two parties is done. Also, in my state, I suspect in all states, you can’t even get on the ballot anymore. The ballot is closed. An independent candidate must file early. Isn’t that a statement on our corrupt entrenched power structures? The two party system is alive and well. Of course, my gerrymandered district would not have a competitive election anyway. But, a little political scrap would be worth having, just to annoy the powers that be. Does anyone know of a single congressional challenger that would be capable of making a good argument on the economy, financial reform, and corporate values?
So all this talking, writing, debating is good. It is foundational for something to follow. What do you think that should be? What do you think it will be? How does our little movement do something about the NY/Washington power axis? Any ideas? What about our little banking system? Any ideas?