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There's a term for that.

There are three stories about the euro crisis: the Republican story, the German story, and the truth. -- Paul Krugman
by Migeru (migeru at eurotrib dot com) on Mon Mar 12th, 2012 at 05:10:52 AM EST
[ Parent ]
aka regulated market mechanism capitalism, increasingly it seems to be the the only sort compatible with democracy.

I like the way neolibs invent pejorative terms for sensible things they dislike

keep to the Fen Causeway

by Helen (lareinagal at yahoo dot co dot uk) on Mon Mar 12th, 2012 at 07:05:26 AM EST
[ Parent ]
Yes, the terminology is highly tendentious. I encountered it for the first time in the otherwise excellent This time is different: 800 years of financial folly by Reinhart and Rogoff.

There are three stories about the euro crisis: the Republican story, the German story, and the truth. -- Paul Krugman
by Migeru (migeru at eurotrib dot com) on Mon Mar 12th, 2012 at 07:36:15 AM EST
[ Parent ]
In addition to financial repression we need a nastier big brother which I would call financial smothering. Apply financial smothering to the entities that most vociferously protest financial repression. A great way to re-size the financial industry back to something we can live with.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Mon Mar 12th, 2012 at 11:15:37 AM EST
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I wonder when Reinhart is going to bother to notice modern monetary theory.
by rifek on Mon Mar 12th, 2012 at 06:42:11 PM EST
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