[Pen-l] Naomi Klein and Understanding Crises

[Michael Perelman <michael@xxxxxxxxxxxxxxxxx>]

I do not think that all evil emanates from the 
University of Chicago.  Nor, I suspect, does Naomi 
Klein.  I think very highly of Lester Telser, for 
example.

Also, I went to school with two of the Chicago boys in 
Berkeley.  Same Ford Foundation program, I believe.  
One, I understand, a major role in fingering 
politically suspect academics.  Another, I believe, 
later ran the Catholic University.

Chicago and shock made a very good organizing 
principle.

I agree with Doug that her interview with Greenspan 
was embarrassing.  Some of the book was over the top, 
but on the whole I thought it was excellent -- not as 
economic analysis, but as leftist economic journalism, 
with a good command of much of the subject.

My own understanding of the economy is that both 
constructive and destructive forces are at work.  At 
times, the destructive forces predominate, but they 
are always there and are as certain to break out 
eventually as an earthquake in San Francisco.  Tremors 
may be a sign of an impending disaster, but certainly 
there will be more tremors and disasters.

As for citing conservative economists, Marx did that 
quite a bit, giving them credit where it was due.

Klein's article was not that strong.  Associating 
Furman with Robert Rubin suggests, as Doug observed, 
that the gulf between Chicago and Harvard is not all 
that great.  But she does not deserve the wholesale 
condemnation that he posted here.

 -- Michael Perelman 
Economics Department California State University
Chico, CA 95929

Tel. 530-898-5321
E-Mail michael at ecst.csuchico.edu
michaelperelman.wordpress.com
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