hot money

Stumbling Toward Stimulus: Are Entitlements in Danger?

Originally published 2009-01-08 14:14:40 -1000 - promoted by Roxy

In contrast to the mainstream media, there were many warnings in the progressive blogosphere over the past two years about the dangers of economic imbalances – most particularly the gap in incomes resulting from the 28-year old war Ronald Reagan initiated on the working and middle classes  – leading to a financial crisis. There is one primary and very important reason for this blindness of the mainstream media and prescience of the progressive blogosphere – the mainstream media is infested with the reigning economic paradigm of monetarism and financial economics which places emphasis on financial and monetary capital, while the progressive blogosphere throbs with populist economics focused on how well the least in society are uplifted and supported - the hoary old idea of developing human capital.