Mar
18
2009

On Groupthink and 'Financial Infotainment'

Editorializing in the Wall Street Journal (3/18/09) on how "Financial Journalists Fail Upward," Wrecking Crew author Thomas Frank sees the "world of financial infotainment" as its own "market where accountability does not seem to exist" and in which "the old order discredits itself, but the old order persists nevertheless": This needs to be repeated every time someone pleads, "Who could have known?" Plenty of people did see the disaster coming. Most of them were marginalized, however, laboring at out-of-the-way econ departments, blogs and B-list think tanks. They were excluded and even ridiculed because their larger understanding of the economy was […]

Feb
19
2009

Bipartisanship Amid 'the Charred Ruins of American Prosperity'

Calling it "obvious" that "promises to get beyond partisanship are the most perfunctory sort of campaign rhetoric, almost as empty as the partisanship itself," the latest from Thomas Frank (Wall Street Journal, 2/18/09) explains the corporate media's fetish for bipartisanship: For the Beltway commentariat, however, transcending partisanship is the most meaningful of issues, more important, one senses, than the economic problems that trouble those people at town-hall meetings. "Nothing was more central to [Obama's] victory last fall than his claim that he could break the partisan gridlock in Washington," wrote the Washington Post's David Broder a few weeks ago, in […]