{"id":9898,"date":"2008-12-01T19:30:40","date_gmt":"2008-12-01T19:30:40","guid":{"rendered":"http:\/\/127.0.0.1\/site\/2017\/2\/1985\/charles_krauthammer_from_market_economy_to_political_economy\/"},"modified":"2008-12-01T19:30:40","modified_gmt":"2008-12-01T19:30:40","slug":"charles_krauthammer_from_market_economy_to_political_economy","status":"publish","type":"post","link":"https:\/\/kendallharmon.net\/?p=9898","title":{"rendered":"Charles Krauthammer: From Market Economy to Political Economy"},"content":{"rendered":"<p>In the old days &#8212; from the Venetian Republic to, oh, the Bear Stearns rescue &#8212; if you wanted to get rich, you did it the Warren Buffett way: You learned to read balance sheets. Today you learn to read political tea leaves. If you want to make money on Wall Street (or keep from losing your shirt), you do it not by anticipating Intel&#8217;s third-quarter earnings but by guessing instead what side of the bed Henry Paulson will wake up on tomorrow.<\/p>\n<p>Today&#8217;s extreme stock market volatility is not just a symptom of fear &#8212; fear cannot account for days of wild market swings upward &#8212; but a reaction to meta-economic events: political decisions that have vast economic effects.<\/p>\n<p>As economist Irwin Stelzer argues, we have gone from a market-driven economy to a politically driven economy&#8230;.<\/p>\n<p><a href=\"http:\/\/www.washingtonpost.com\/wp-dyn\/content\/article\/2008\/11\/27\/AR2008112702052_pf.html\">Read it all<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the old days &#8212; from the Venetian Republic to, oh, the Bear Stearns rescue &#8212; if you wanted to get rich, you did it the Warren Buffett way: You learned to read balance sheets. Today you learn to read<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/kendallharmon.net\/?p=9898\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":794,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[40,149,151,596,594],"tags":[],"class_list":["post-9898","post","type-post","status-publish","format-standard","hentry","category-economics-politics","category-economy","category-politics-in-general","category-the-credit-freeze-crisis-of-fall-2008the-recession-of-2007","category-the-september-2008-proposed-henry-paulson-700-billion-bailout-package"],"_links":{"self":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/9898","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/users\/794"}],"replies":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9898"}],"version-history":[{"count":0,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/9898\/revisions"}],"wp:attachment":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9898"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9898"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9898"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}