In The Washington Post, Neil Irwin argues that things may well get better because, in most sectors, they can’t get much worse. The Economist is cautiously optimistic about a recovery—so long as the politicians don’t get in the way.
Doomsayer Nouriel Roubini remained true to character, though, arguing on Project Syndicate that market-oriented economies aren’t working—and if we don’t fix them, things are only going to get worse. Robert Samuelson agrees, saying that “downward mobility” in America is “a real possibility.”
While still faulted by some for lacking clear goals, Occupy Wall Street has unquestionably sparked discussion of class and economics in American society. In The Times, Catherine Rampbell analyzed the composition of the now-famous “1%,” pointing out that the very wealthy go well beyond Wall Street. Businessweek provided a quiz for readers to determine if they’re part of the 1 percent. And the Wall Street Journal offered a chart of where the “super rich” live.
The protesters may be happy about this, but what do falling profits at banks mean for the economy? The Curious Capitalist wants to know.
Despite the protest movement, however, a Gallup poll found that more Americans blame Washington than Wall Street for the financial crisis.
Paul Krugman departed from his usual material to discuss the impact of blogging on the economics profession. (He’s all for it.)
A Boston Fed paper finds that young people are deeply skeptical about home ownership.
So maybe it makes sense to offer a visa to any foreigner willing to buy an American house.
And finally, a little mental escapism: This art projection on the side of a Berlin building is simply stunning.