The End of Banking: Money, Credit, and the Digital Revolution - "Unregulated banking with access to government guarantees is an enticing business model. It offers the profits of excessive risk-taking in good times, and allows passing on the inevitable losses to taxpayers in bad times." [more inside]
The Myth of the Visionary Leader. "But just knowing that great leadership is not always going to look great, or even make us feel inspired, could help gird us against the power of big personality and encourage us to make more sober choices."
Economists and the theory of politics - "why unions were often well worth any deadweight cost" [more inside]
Representative democracy is what's happening. Unfortunately, democracy is broken. There's a hidden failure mode, we've landed in it, and we probably won't be able to vote ourselves out of it. (via cstross)
The Red Cross has been ordered to stay out of New Orleans. Critical firefighting equipment is being left untouched. Chicago's offer of manpower and equipment is "snubbed" by FEMA, according to the Mayor. FEMA "forgets" to tell the military to airdrop food and water to the survivors. Northern Command has been ready for days, just waiting for the President to give the orders. Feds delayed paperwork giving permission for National Guard to act. Louisiana begged for federal help on Sunday in a formal request, but the Bush administration says they didn't know anything about problems until Wednesday. Meanwhile, reporters apparently grow weary of the spin doctors.