Saturday, September 08, 2018

Sorkin's "Too Big to Fail": The 2008 crash generated today's populism and mistrust of experts (social media alone isn't "to blame')

Andrew Ross Sorkin was interviewed on CNN’s Michael Smerconish today (Saturday) about the paperback for “Too Big to Fail: The Inside Story of how Wall Street and Washington Fought to Save the Financial System – and Themselves”, on Penguin paperback, from Penguin (Sept 7), originally published in hardcover in 2009 by Viking.

Sorkin said today that the 2008 financial crash helped drive populism, distrust of experts and “facts”, and the polarization we see on social media, and the vulnerability to foreign manipulation of this populism. If so, that actually argues for libertarian ideas of speech – as user-generated content is more likely to lead to challenging of dangerous trends within the establishment (like “credit default swaps”). This is an interesting and valuable interpretation.

(This is not the same Sorkin who wrote "The Social Network" -that was Aaron -- but the content and attitude seem similar.) 

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