The fundamental challenge for The Economist is squaring its anti-regulatory critique with its admission that “most” of today’s regulations have monetized benefits exceeding costs. The magazine likes that, after all. So where’s the problem?
Larry Summers, like Bill Clinton, still defends the reversal of the 1933 Glass-Steagall Act, a 1999 repeal that destroyed the wall between investment and commercial banking put into place by Franklin Roosevelt in response to the Great Depression.
The solution to the recession is fairly straightforward. We must increase demand for American goods, create jobs and resolve the home foreclosure crisis. If we continue this regulatory race to the bottom, American manufacturers will be less competitive and fewer -- not more -- jobs will be created.
Funny, he doesn't look like Marie Antoinette. But when former New York Times Executive Editor Bill Keller asks his readers if they are "bored by the soggy sleep-ins and warmed-over anarchism of Occupy Wall Street," it displays the arrogance of disoriented royal privilege.
Politicos like Richard Shelby should be forced to tell the truth when they claim they have an idea that will "protect jobs." And if their real motivation is just to make it harder to protect the American people ... well, they should be forced to disclose that, too.
Pan Am was the airline that practically invented aviation. It pioneered air navigation and communications, and its list of "firsts" in the industry is awe-inspiring. Known as the "Queen of the Skies," it was the benchmark by which all other airlines were judged.
The Republicans repeatedly say "F you" to everyone in this country except for the elite wealthy and big corporations. The party has moved so far to the right, its core policies are far out of the American mainstream.