Free-market Fundamentalism Revisited

Via Balloon Juice, I just discovered the American News Project (ANP), which seems to be an interesting source of video journalism outside the mainstream media. The résumés of those running ANP demonstrate a high level of experience and qualification.

In the video essay below, ANP took a look at the financial crisis. The story, produced last September, discusses many of the things we have been discussing here at ATK: Deregualtion of the financial sector, trade, economics and "free-market fundamentalism". The interesting thing, is that they don’t just seek answers to the why and how of the crisis and how to fix it, but they discuss how very few people, even the brightest minds, don’t know how to fix it.

It is pretty hard to have an honest understanding about whether or not the Obama administration is doing the right things to fix this crisis, when these types don’t have a clue. I think all a leader can do in this crisis like this is take a shot at fixing the economy based on their judgment, but in the end, it’s a stab in the dark.

It’s fine if someone chooses to criticize the administration’s economic policies, but if one does so while acting as if they know better, they are likely lying. In the end, those who criticize this approach probably have no clue how to fix it either, no matter what their credentials. In other words, we might be screwed.



EDIT:

In a second essay, ANP takes a good look at the possible rise of a populist movement with some historical perspective.