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Old 11-23-2011, 05:35 PM
BornAgainDemocrat BornAgainDemocrat is offline
Join Date: Apr 2008
Location: near Chattanooga
Posts: 826
Default Re: Values Added: The Whirligig of Time (Glenn Loury & Walter Russell Mead)

Having listened to it now, it was every bit as good as I predicted. One thing you gotta admit about Walter Russell Mead: he makes interesting observation you've heard no one else make before. That's what makes him one of the best journalists around.

Economics is WRM only weak suit, at least in my opinion. He errs, for example, when he blames automation primarily and ignores the effects of our trade relationship with China on the collapse of the middle class. Or when he imagines that teaching skills to the unskilled is the key to solving the problem of automation. (Shorter work weeks are and always have been the only way to share the fruits of rising labor productivity. They don't call it labor saving technology for nothing.)

As for dealing with trade, OWS'ers don't claim to be political economists. Good for them, they are wise. Maybe it's time for the real political economists to come up with some answers for a change -- answers which, hopefully, will be as new and refreshing as a lot of the things Walter Russell Mead says.

Last edited by BornAgainDemocrat; 11-23-2011 at 05:45 PM..
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