BRAVE NEW WORLD

Walter Russell Mead has some thoughts on the latest column by Paul Krugman. I actually skipped the column when it appeared yesterday, but reading Mead led me to read Krugman. I think both are valuable pieces to consider. Krugman is correct in his diagnosis of an economy that is being changed in dramatic and unforeseen ways by new technology, but Mead is correct in pointing out that Krugman (and other traditional liberals) is unable to move beyond the old solutions (more and stronger unions, more government programs like universal health care, etc.). As I approach 50 years of age, I find myself with a personal stake in all of this. Technology changed my business (broadcasting) in many dramatic ways, most importantly in that it allowed for significant downsizing in terms of personnel (along with changes in federal regulations that allowed for the development of super-sized broadcasting companies like Clear Channel). Job opportunities diminished dramatically as a result, which forced many of us to choose different paths. There are millions of people out there who face similar circumstances. How they react to those circumstances will determine the course of our collective future, as well as their individual one.