• The Real Legacy of the 1970s

    by Michael Tomasky

    Inflation was as pivotal a factor in our national crackup as Vietnam and Watergate.

  • Edward Snowden vs. Robert Seldon Lady

    by Tom Engelhardt

    This, then, is our world: a single megapower has, since September 2001, been in a financing and construction frenzy to create the first global surveillance state; its torturers run free; its kidnappers serve time at liberty in this country and are rescued if they venture abroad; and its whistleblowers -- those who would let the rest of us know what “our” government is doing in our name -- are pilloried.

  • Paul Krugman: The Mythical '70s

    Paul Krugman is a Princeton economist and an op-ed columnist for the New York Times.Matt O’Brien is probably right to suggest that Michael Kinsley’s problems — and those of quite a few other people, some of whom have real influence on policy — is that they’re still living in the 1970s. I do, however, resent that thing about 60-year-old men …But it’s actually even worse than Matt says. For the 1970s such people remember as a cautionary tale bears little resemblance to the 1970s that actually happened.In elite mythology, the origins of the crisis of the 70s, like the supposed origins of our current crisis, lay in excess: too much debt, too much coddling of those slovenly proles via a strong welfare state. The suffering of 1979-82 was necessary payback.None of that is remotely true.There was no deficit problem: government debt was low and stable or falling as a share of GDP during the 70s. Rising welfare rolls may have been a big political problem, but a runaway welfare state more broadly just wasn’t an issue — hey, these days right-wingers complaining about a nation of takers tend to use the low-dependency 70s as a baseline.