The Quiet Coup

Atlantic Monthly by Simon Johnson | Mar. 27, 2009 (Special Report)

The crash has laid bare many unpleasant truths about the United States. One of the most alarming, says a former chief economist of the International Monetary Fund, is that the finance industry has effectively captured our government—a state of affairs that more typically describes emerging markets, and is at the center of many emerging-market crises. If the IMF’s staff could speak freely about the U.S., it would tell us what it tells all countries in ... Full Story »

Posted by Kaizar Campwala

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Dwight Rousu
4.6
 by Dwight Rousu - Apr. 2, 2009

MIT professor Simon Johnson was the chief economist at the International Monetary Fund during 2007 and 2008. His hard-hitting description of the current socio-political-economic crisis in the United States is must reading.

He has some very similar views to Greenwald and to Krugman.

The second problem the U.S. faces—the power of the oligarchy—is just as important as the immediate crisis of lending. And the advice from the IMF on this front would again be simple: break the oligarchy.

we also need to overhaul our antitrust legislation

The second problem the U.S. faces—the power of the oligarchy—is just as important as the immediate crisis of lending. And the advice from the IMF on this front would again be simple: break the oligarchy.

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