Catastrophic Thinking Is So Hot Right Now

More

Catastrophe has bracketed Obama's first two years in office. He was elected in the wake of an economic catastrophe without parallel in the last 70 years. Today in the Gulf, he faces an environmental catastrophe without parallel in U.S. history.

Elliot Spitzer connects the dots:

At a political level, big business over the past 30 years superficially won by limiting liability and neutering the effectiveness of regulatory supervision. And the public has ended up absorbing the enormous costs of two disasters--one financial, one ecological. We will reclaim the proper balance and protection for the public only when we remedy these errors. Eliminate false caps on liability that distort incentives and behavior, or re-establish the effectiveness of the oversight agencies--from the SEC to the MMS. If we don't, the tragedies of the past several years will be premonitions of the crises to come.

Read the full story at Slate.

Jump to comments
Presented by

Derek Thompson is a senior editor at The Atlantic, where he writes about economics, labor markets, and the entertainment business.

Get Today's Top Stories in Your Inbox (preview)

Saving Central: One High School's Struggle After Resegregation

Meet the students and staff at Tuscaloosa’s all-black Central High School in a short documentary film by Maisie Crow. 


Elsewhere on the web

Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register. blog comments powered by Disqus

Video

Where Time Comes From

The clocks that coordinate your cellphone, GPS, and more

Video

Computer Vision Syndrome and You

Save your eyes. Take breaks.

Video

What Happens in 60 Seconds

Quantifying human activity around the world

Writers

Up
Down

More in Business

Just In