Galbraith yesterday reprinted his review of Phil Gramm's dissertation. Though Jamie declines to interpret the dissertation in light of Gramm's later performance in public life, I won't shirk from that duty. If you're an economist who doesn't believe in empirical work--as is apparently the case with Gramm--all you've really got to go on is ideology (and who gives you the biggest campaign contribution.) I remember when Gramm tried to run for president and blamed his poor performance on anti-Southern bias in the media, neglecting the more obvious explanation, which was that he is about as charismatic as a foot fungus. I'm happy to see that he's putting his charm skills to work again for McCain!
Michael Hudson: Trump is Obama’s Legacy. Will this Break up the Democratic Party? - The Democratic Party will keep losing as long as it remains the party of "no hope or change" for the 95%.