Wednesday, October 02, 2013

Captains Feckless

CEOs and other business big shots are mostly pretty smart guys, and most of them understand that government shutdown is bad and default is catastrophe. So this is when they should be on the phones to their Congressman screaming bloody murder. It seems though, that their money and presumed influence don't count for enough to get their guys to pick up the phone these days. Paul Krugman looks at why, and decides that a lot of them are unclear on the question.

An excerpt:

I do sometimes wonder how these guys can be that naive, and some of them probably aren’t — they’re playing class warfare on the sly. But some of them really do seem clueless, probably because thinking about the reality of American politics today would make them uncomfortable — and who’s going to tell the guy in the big office things that make him uncomfortable?

It’s not just Fox News watchers who live in a bubble; sometimes, wealth and power can have the same effect.