James Pethokoukis

Politics and policy from inside Washington

Can Obama be deprogrammed?

September 27, 2010

Some interesting stuff in this piece by Michael Lind:

Instead of the updated Rooseveltonomics that America needs, Obama’s team offers warmed-over Rubinomics from the 1990s. Consider the priorities of the Obama administration: the environment, healthcare and education. Why these priorities, as opposed to others, like employment, high wages and manufacturing? The answer is that these three goals co-opt the activist left while fitting neatly into a neoliberal narrative that could as easily have been told in 1999 as in 2009. The story is this: New Dealers and Keynesians are wrong to think that industrial capitalism is permanently and inherently prone to self-destruction, if left to itself. Except in hundred-year disasters, the market economy is basically sound and self-correcting. Government can, however, help the market indirectly, by providing these three public goods, which, thanks to “market failures,” the private sector will not provide.

Me: To me the biggest issue that Obama needs to change his mind on is that economic inequality/redistribution is America’s biggest problem rather than slow growth.(It is certainly not working politically.) Of course, it may be that Obama is such a New Normal believer that he thinks slow growth is a given.

Comments

I don’t know what world you live in, but the capitalism I see is becoming less stable and more destructive. With each passing recession, the results get worse and the time interval gets less and less. Looks like a complex system de-constructing

Posted by dcrimso | Report as abusive
 

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