Based on Richard A. Epstein’s new Broadside, this video outlines the differences between the classical liberalism of the Tea Parties and the progressive agenda advanced by the OWS movement, and reveals that the painful performance of the American economy in the past decade is not a function of bad luck, but the product of flawed institutional design.
We are reaping the harvest of efforts to reinvigorate the progressive programs of the New Deal that stress high progressive taxes, large transfer payments, strong labor laws, and major barriers to free trade. This combination of public finance and market regulation has proved a potent force for disaster.
Richard Allen Epstein (born April 17, 1943) is the Laurence A. Tisch Professor of Law at the New York University School of Law and Professor of Law Emeritus at the University of Chicago Law School.
“The Occupy movement seems to have dropped out of the news lately. Why did that happen? I think the people are still out there, but the coverage is mostly gone. There is this Drudge-linked AP report about campers in LA and Philadelphia getting rousted by the police. That’s a news event — cops in riot gear, people arrested — and it’s covered. What’s missing is all the attention to the demands and critiques of the protesters — the political substance of the movement.
I’m guessing that the expression of the protesters — in form and substance — wasn’t serving the interests journalists favor. Excessively left-wing speech coming out of an angry/confused/unclean face… it’s not helping the mainstream Democrats.”