American - Author | March 21, 1965 -
Is Wall Street the rightful master of our economic fate? Or should we choose a broader form of sovereignty?
Thomas Frank
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Back in the days when the market was a kind of secular god and all the world thrilled to behold the amazing powers of private capital, the idea of privatizing highways and airports and other bits of our transportation infrastructure made a certain kind of sense.
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The thing now is to seem concerned in a vaguely social-democratic way.
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Allowing a private rather than a public entity to take over your toll road merely means that your tolls will have to be that much higher to cover their more expensive debt.
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Public borrowing is costly these days, true, but interest rates on municipal bonds are still considerably lower than those borne by corporate debt.
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Presidential legacies are valuable things, too valuable to be left up to historians.
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A president aiming for 'Great' or 'Near Great' status must do more. He must give lots of interviews, make records accessible, and heap the flattery on academia - each of which Mr. Bush has signally failed to do.
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In the subprime mortgage industry, bankers handed out iffy loans like candy at a parade because such loans meant revenue and, hence, bonuses for executives in the here-and-now.
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Republicans run the machine when it's their turn, and then hand the wheel over to Democrats when the public has had enough.
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Massive inequality, we have learned, isn't the best way to run an economy after all. And when you think about it, it's also profoundly ugly.
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Surrogate motherhood has been the subject of much philosophical and political dispute over the years.
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When money is exchanged for pregnancy, some believe, surrogacy comes close to organ-selling, or even baby-selling.
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