A couple of years ago I heard David Cay Johnston on Bill Moyer’s Journal on the subject of subsidies run amok. Johnston was fleshing out the details of high-dollar contracts, tax breaks and low-interest loans at tax dollar expense. I was outraged when I heard an interview, it got worse with more detail.
The independent facts in the book were basically what I expected from reading about Washington DC politics. Corrupt politicians doing favors for their friends, or in exchange for large campaign donations, lobbyists writing legislation like they were paid to do homework. The really disgusting part is that all of these constituent facts make up a narrative that demostrates a systematic erosion of protections for consumers, workers, investors and ordinary citizens.
This book was written and published before we faced a “ajor economic crisis” but really does serve as a warning for the things that we now face. That stripping away public goods would lead to a crumbling economy that would pile up suffering on the poor and weak.
Johnsotn doesn’t leave the stroy thre though. He offers soultions to tak eback the control from rogue elected officials and plotting lobbyists. But you’ll have to read the book for that. This one’s a keeper.
Grace and Peace,
Jared
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