Kevin Phillips
Former Nixonite Kevin Phillips: We're Like London 100 Years Ago
Location: You paint a pretty grim portrait of the financial services sector and its present role in the American economy. You write about the recent economic bubbles, including the housing bubble: ‘As for the financial sector’s behavior in such circumstances, surely there must be some applicable variation of Lord Acton’s famous thesis about the greater the power, the greater the abuse and corruption.’ What parts of the financial services sector are so corrupt and so prone to abuse?
Mr. read more »
Taking Measure of the Bust
BAD MONEY: RECKLESS FINANCE, FAILED POLITICS, AND THE GLOBAL CRISIS OF AMERICAN CAPITALISM
By Kevin Phillips
Viking, 239 pages, $25.95
Remember the good old days? No, I don’t mean the sun-drenched, suburban 1950s. Nor do I refer to the go-go giddiness of the ’90s. I’m talking about last summer—before the days of “credit crunch” and “market downturn” and all the other phrases commentators trot out to signal that the American economy is on the verge of unraveling altogether. In those days, less than a year ago, we might not have been booming, but we weren’t busting, either. read more »
How the Great Fortunes Grow: The State Lends a Helping Hand
