Peter Orszag, Co-Optation, and Progressivism
Check out Will Wilkinson’s post on Peter Orszag’s disappointing decision to cash in at Citigroup. First Wilkinson suggests that this sort of co-optation of government officials by market forces is a fatal flaw in progressivism. “[M]arket institutions find ways to use the government’s regulatory and insurer-of-last-resort functions as countervailing forces against their competitors and, in … Read more