Now that the foundations of austerity are crumbling because of an Excel coding error, few may be willing to champion the economic theory; sci-fi may become part of the mandatory reading list for West Virginia students; meanwhile, flamenco has become more than a dance—it’s a new way to protest the banks. These discoveries and more below.
On a regular basis, Truthdig brings you the news items and odds and ends that have found their way to Larry Gross, director of the USC Annenberg School for Communication. A specialist in media and culture, art and communication, visual communication and media portrayals of minorities, Gross helped found the field of gay and lesbian studies.
‘The Failure of Fiscal-Monetary Policy, 2008-2013’
Fiscal and Monetary policies since the financial crisis and the protracted recession that began in 2008 have failed to generate a sustained recovery of the US economy—except for big banks, big corporations, investors and speculators, and the wealthiest 10% households.
Laws of Economics Don’t Exist!
Zachary Karabell is right on two counts: First, the “laws of economics” are often invoked to rule out policies and strategies, including alternative institutions, to solve pressing economic and social problems. And second, “laws of economics” don’t actually exist.
The Problem with the Problem with Health Care Costs
The most important piece of journalism so far in 2013 was commissioned by The New Republic. Unfortunately, due to a dispute, it appeared in Time, an obscure publication where no one will read it. It is so good, though, at clarifying our health care problem that it is worth digging up, even though it is two months old, and despite a few conceptual errors and confusions, undoubtedly inserted by the editors at Time.
Do You Have the Right to Remain Silent?
The FBI’s decision to interrogate the Boston marathon bombing suspect before reading him the Miranda warnings has been extensively criticized by civil libertarians.