NPR presented an account of the growing economic crisis over the last year on Morning Edition. The account was presented entirely from a "who could have known" perspective that focused almost exclusively on the major financial crisis of the year.
Of course the downturn was entirely predictable based on the collapse of the housing bubble, even if the timing and the specific financial crises were not. The real economic story of 2008 was that almost the entire economic and political establishment were caught by surprise by events that should have been widely expected.
If economists were held accountable in their job performance in the same way as administrative assistants or dishwashers, they would be fired.
Unlike many news organizations, the Prospect has remained staunchly committed to keeping our journalism free and accessible to all. We believe that independent journalism is crucial for a functioning democracy—but quality reporting comes at a cost.
This year, we’re aiming to raise $75,000 to continue delivering the hard-hitting investigative journalism you’ve come to expect from us. Your support helps us maintain our independence and dig deeper into the stories that matter most.
If you value our reporting, please consider making a contribution today. Any amount helps secure our future and ensure we can continue holding power to account.
