Paul Krugman
JULY 17, 2012, 6:18 PM
Finance Capitalism
One more point about this whole business of "attacking
capitalism": to the extent that Obama is attacking anything other than
Mitt Romney, he's questioning a system in which the financial sector has grown
to an unprecedented
share of the economy (pdf):
[…]
So we're hearing a lot of people -- including some alleged
progressives -- declaring that you can't criticize the way we've run
our economy for the past 30 years. Why not? The metastasizing finance sector
eventually led us into the worst economic catastrophe since the Great
Depression; that seems reason enough to question the model.
And bear in mind that Mitt Romney has pledged to repeal
financial reform. It seems to me that in the wake of the global financial
crisis, that -- not Obama's very mild reformism -- is the radical position.
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