Re: [Pen-l] Naomi Klein: Beware of Obama's Chicago School of Economics boys

[Doug Henwood <dhenwood@xxxxxxxxx>]

On Jun 14, 2008, at 10:17 AM, Patrick Bond wrote:

> And I don't blame you, if this distracts from your own pollyannish  
> view of the unfolding crisis. But you are missing your targets with  
> this geographical confusion, when obviously she's aiming at the  
> confluence of Chicago School assumptions of rational - or at least  
> clearing - financial markets, and neoliberalism more generally.

Say that then. Say that it's a tradition in economics that goes way  
back, and infects the faculty of Harvard too. Say that it fits nicely  
with capitalist class interest (unless they need a bailout, which  
they've just gotten for the umpteenth time). Why narrow it down in  
every dimension, time, place, person?

I notice that a while back, you and other fans of "unfolding crisis"  
were citing bourgeois sources for support. Now that most bourgeois  
sources think that the worst of the financial crisis is probably  
over, you're not citing bourgeois sources any more, eh?

Is it pollyanna-ish to say that while the risk of total financial  
implosion is shrinking, if not to zero, the U.S. economy probably  
faces years of trouble? If it is, I plead guilty, but that doesn't  
sound too giddy to me.

Doug
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