J. BRADFORD DELONG

What is “destructive competition” for producers is a bargain bonanza for consumers.

As long as perverse compensation systems for financial executives exist, the United States financial problems will remain nearly, if not completely, intractable.

The great network of social insurance programs established by President Franklin Roosevelt’s New Deal, President Harry Truman’s Fair Deal, President John F. Kennedy’s Great Society, and President Lyndon Johnson’s Great Society and defended by President Bill Clinton, sharply limits the amount of poverty a downturn [in the economy] can cause.

Sound regulation of Wall Street will depend on a different, less money dominated form of politics—like the kind that was generated by the more egalitarian income distribution of the post-World War II years.

What is “destructive competition” for producers is a bargain bonanza for consumers.

The great network of social insurance programs established by President Franklin Roosevelt’s New Deal, President Harry Truman’s Fair Deal, President John F. Kennedy’s Great Society, and President Lyndon Johnson’s Great Society and defended by President Bill Clinton, sharply limits the amount of poverty a downturn [in the economy] can cause.

Sound regulation of Wall Street will depend on a different, less money dominated form of politics—like the kind that was generated by the more egalitarian income distribution of the post-World War II years.

As long as perverse compensation systems for financial executives exist, the United States financial problems will remain nearly, if not completely, intractable.