Paul Krugman: The Fed is not a rogue trader and historical norms for interest rates aren't relevant in a persistently depressed, deleveraging economy. But traders continue to lash out and claim, "It's all fake!"
The citizens' ballot initiative or referendum, created in the first Gilded Age to counter plutocratic governance, is overmatched in new Gilded Age.
Jonathan Schell is the Doris M. Shaffer Fellow at The Nation Institute, and a Senior Lecturer at Yale University. He is the author of several books, including The Unconquerable World: Power, Nonviolence, and the Will of the People.