Pinched

August 23rd, 2011

One of the most cliched expressions on Wall Street is, "this time it's different.” Usually, it’s not. The trouble is, some times it really is different. Arguably the current economic dislocation and deconstruction that we face will alter every aspect of our society. The question is, is the bursting of our economic bubble a direct result of economic fundamentals and of the normal business cycle OR is it the result of broader social, economic, technological and societal changes, that have been building up pressure for years, and the results of which will be with us for years, maybe decades to come. If so, are these the problems of a swift moving , modern, global, economy that we simply may not have tools to adjust?

About a year ago Don Peck an editor at The Atlantic wrote a Cover Story for the Atlantic which kindled a national conversation. That story touched a nerve and has become the core of his new book Pinched: How the Great Recession Has Narrowed Our Futures and What We Can Do About It. My conversation with Don Peck: