The witchdoctors are rattling their bones and spitting into their potions. Frogs’ legs, squawks one. Eye of newt, cries another. The right blames Fanny and Freddy for setting off the financial tsunami. Naomi Klein says it’s the Chicago boys and capitalism. The left denounces private sector greed. The right, public sector do-gooding. Overpaid CEOs, overdrawn borrowers, underestimated risk. There’s enough blame to go around. The only problem is that a half-baked understanding of a problem leads to half-baked remedies. And half-baked remedies are worse than no remedy at all. Nationalization is the cry now. Nobel winner Paul Krugman at the … Continue reading Nationalization