Madness and Ruin: Politics and the Economy in the Neoconservative Age

Mel Watkins has done a good job of looking at Neo-Conservatism or whatever you want to call our present economic system.Contrary to the hostile review here, probably by a vested interest, Watkins has the perspective, education and experience to comment on the way things were, and the way things are. Considering he was a professor of Economics at one of Canada's most respected Universities, one might assume his views are based upon an excellent knowledge of economic theory.I agree with Mr. Watkins' view of the current system. Obviously Keynesian Economics is far from Socialism. That it worked better than our current system is also obvious, if one bothers to look at average growth figures for the decades where Keynesian economics were in play, vs. the current Chicago "Freidman" policies of today... After all, growth has been one half of what it was during Keynes' era, while indicators in virtually every country in the world have shown a dramatic increase in the gap between rich and poor.Is this progess? Watkins says NO. The facts speak for themselves. I applaud Mr. Watkins for having the courage to discuss these issues. In my own experience I've found that most economists (and other professions for that matter) simply parrot the "party line." Very few people in any sphere have the ability to independently analyse trends and their causes and come up with a new theory. Mr. Watkins is one of these people.He isn't alone. Many economists and others are coming to the same conclusions about our current, destructive economic model. Mr. Watkins is to be applauded for having the intelligence and courage to be one of the first to identify the growing cancer of globalisation and who it really serves.Socialism? Hardly. It is really compassionate capitalism.