Wednesday, October 08, 2008


Joking aside, as I wrote earlier the noises made by Paulson earlier and somewhat fleshed out in that NYT article sound like an improvement over their previous perspective on things. Details and execution matters and I don't know enough to approve or disapprove of the particulars, but at least the concept is better.

Still it'd be nice to see a bit of a reckoning in our mainstream media, which even more than the most right wing academic economists have over the past couple of decades embraced the Magic Free Market Fairy as the answer to all things.

The Washington Consensus: wrong about everything, all the time.