Flash Mob Psychology

Flash Mob Psychology

  • Looks like there’s an awful lot of grassroots opposition to the whole bailout thing.
  • There also seems to be a growing number of economists who believe that the Wall Street bailout proposal (with or without liberal amendments) is unnecessary corporate welfare and that companies that can’t save themselves should be allowed to fail — from Paul Krugman on the left to Allan Meltzer on the right. See this article by Peter S. Goodman of The New York Times.
  • Some argue that we live in a plutocracy masquerading as a democracy. I worry that they might well be right.

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