14th June 2012
As the start of the London Olympics draws closer, some Londoners are questioning if the entire event is worth the hassle – or cost. David Futrelle says they've got good reasons to be concerned. Time
Dani Rodrik outlines the possible but remote scenario whereby starting with a Greek exit from the euro, the world economy eventually slumps into what future historians will call the Second Great Depression. Project Syndicate
"If global liquidity contracts and if markets around the world pull back, our imaginations will once again turn to the increasingly visible costs of globalization and away from the potential for all peoples to prosper." Credit Writedowns
Pulitzer Prize-winning journo David Cay Johnston notes that coming out of the Great Depression the vast majority did better, while the super-rich were worse-off. Coming out of the Great Recession, however, has produced the opposite. Reuters
Thomas Ferguson says despite what many Americans are told, unreasonable pay demands by state and municipal workers are not the biggest budget busters but rather it's Wall Street. AlterNet
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