12 Steps to Economic Recovery

Rich Karlgaard, Forbes, Jan 05, 2009
Commentary by Stephen Downes

The very first sentence in the very first step in this Forbes article is, "Admit our mistakes." The author then proceeds to recommend exactly the same sort of thinking that led to the downturn in the first place (a far more sobering - and sober - reflection can be found in the New York Times article by Michael Lewis and David Einhorn, as well as this column from Paul Krugman). After a paean to tax breaks, cuts to medicare and welfare, drill baby drill, and xenophobia, Rich Karlgaard addresses education: "we'll have to break the teachers unions." As though underpaying teachers will really solve any sort of economic (or educational) problem. Isn't this sort of vindictive, partisan, narrow-minded thinking not thoroughly discredited yet? They have wrecked the world's economic system. Why is anyone listening to these people? Why is anyone publishing them?
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