David Barber: What I do know is that while “social psychology” may have had some small role as a causal factor in the Crash of ’08, it was the actual structure of the American and world economies which brought on the crisis. And if in fact we enter a second round of this Crash, it will not stem from what Dr. Shiller calls a “weakness and vulnerability of confidence,” but will result from the same structural elements of our economy as those that brought on the “first dip.”
Sherwood Ross: Slumlords charge exorbitant rents. “Convenience” stores charge higher prices. Military recruiters have their pick of jobless youth desperate for work. And the for-profit, private prisons increase their head count (and income) as the judicial system hands off the young drug peddlers caught in the legal web. As the Kaiser Family Foundation reported, African-Americans fill 40 percent of the nation’s prison cells. Yet they make up just 13 percent of the nation’s population.