I don’t know what the deal is, but I can’t find the NPR story on the documentary Inside Job that I heard just this week. Instead, I can find this earlier interview with the film maker that aired in October:
Now I want to caution free-market economists against focusing on incidentals. Sure, the guy making this film (I’m guessing) wants much more stringent government regulation of the financial industry, and he wants people to go to jail for things that you and I might think were not crimes.
But please don’t dismiss the level of corruption he has uncovered in academia, and also the revolving door between academia, investment banks, and government regulatory positions (including Treasury Secretary and the New York Fed). The interview above shows Glenn Hubbard in the hot seat, but the one I heard earlier this week also featured the famous “gotcha” with Mishkin, and it discussed the Goldman Sachs connection.
What I really don’t want to to see happen, is what occurred in the wake of Naomi Klein’s book The Shock Doctrine. When I read that, I was stunned by the horrific things that the U.S. government had done to psychiatric patients, and the odious foreign regimes that were openly advised by Chicago-trained economists.
But most libertarians didn’t care about any of that; they merely bristled at Klein calling all of that “capitalism.”