Tuesday, August 14, 2012

It's the economics, stupid!

Back in '92 the Clinton campaign stated, "it's the economy stupid."For this current campaign it looks like "its the economics, stupid. This past week of interviews has been all about economics.We've looked at the present and future of the American economy, of capitalism, the federal budget, globalization, the middle class and the future of the American dream.

University of Chicago Professor Luigi Zingales looked at A Capitalism for the People: Recapturing the Lost Genius of American Prosperity. He argues that both big government and big corporations are both to blame for dwarfing the power of the people to impact markets.

Michael Casey, a managing editor at Dow Jones, in his book The Unfair Trade: How Our Broken Global Financial System Destroys the Middle Class examine how our international financial system is deeply interconnected and who we can't solve global problems with nationalistic solutions.

On the other hand, Pulitzer winners Don Barlett and James Steele in The Betrayal of the American Dream, explain how they globalization as the heart of the problem, and how the middle class has been co-opted by a new ruling elite in America.

Finally, Wall Street Journal economics editor David Wessel in his new book RED INK pulls together all of this to show what will clearly become the center of this political campaign that the federal budget is not just numbers and fine print, but a blueprint for policy.