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Obviously, this kind of metaphor, based on the morality of the household and family (sloth versus work, the prodigal child versus the good father), is a classic trope of reactionary rhetoric. The rich have been stigmatizing the poor this way since time immemorial. There’s nothing new under the Gree…

That doesn’t mean the central banks did the wrong thing: the new liquidity undoubtedly helped us avoid a cascade of bankruptcies and prevented the recession from becoming a depression. That is, provided governments now manage to impose strict financial regulations that prevent such disasters from r…

[...] if Barack Obama found himself caving in to the lobbyists and watering down his reform of the health care system, it’s because his preelection promises were not sufficiently specific. He hadn’t really been elected on a program, hence his current weakness. Looking on from Europe, where we’re mo…