The Mess, the Scandals of the S and Ls  

The backbone of the nation’s long-standing commitment to home ownership was the savings and loan industry, the principal mortgage lender for many years. The government protected it against its larger competitors and provided a modest rate advantage to ensure that …





Introduction  

Assumptions of how the U.S. economy functions have been made obsolete by the globalization of production and finance. For example, large U.S. budget deficits did not spur economic growth in the United States, as one might have expected, because imported …





The Literature of AIDS  

In the 1990s, if the optimists are right and the world is lucky, someone will be able to write the history of AIDS. If the epidemic has peaked by then—and some observers argue that this has already happened—we will still …



The New Liberal Journals  

Can you think of a time in this century,” asked a Democratic party activist, “when the Democrats were in worse shape than they are now?” “Yes,” I answered, “the 1920s.” One would have to go back to the uninspired Democratic …





Toledo: Mired in Mergers  

The laissez-faire attitude of the Reagan administration unleashed a wave of corporate mergers, takeovers, and buyouts that has made some financial whizzes wealthy, transformed the face of American business, and wreaked havoc with many industrial cities in the Midwest and …



The Memory of Enemies  

It is only human to give our enemies a distinct territory in our memory, which is why we hear the buzz of summer’s first mosquito with alarm. We think only fools don’t remember their enemies, because remembering is preparedness. And, …



A Thousand Points of Blight  

In April the federal Department of Labor (DOL) announced it had undercounted the number of violations of the child labor law found in a three-day sweep conducted the month before. The department revised the number of violations, from 7,000 to …



The Last Cold War Novel  

The Sykaos Papers by E. P. Thompson Pantheon Books, 1988, 490 pp., $19.95 An alien, Oi Paz, from the ultrarational, computer-directed society of the planet Oitar, crash-lands on Earth. Here he becomes a pawn in a cold war power struggle, …



Unorthodox Leftist  

Political and Social Writings by Cornelius Castoriadis, translated and edited by David Ames Curtis, 2 vols. University of Minnesota, 1988, 347 pp., and 362 pp., $14.95 each To open the pages of these two volumes is to breathe the stale …



McCarthyism Revisited  

Nightmare in Red: The McCarthy Era in Perspective by Richard M. Fried Oxford University Press, 1990, 229 pp., $22.95 Senator Joseph R. McCarthy described McCarthyism as “Americanism with the gloves off,” but few students of this century’s second red scare …



Utopia Overturned  

The catastrophe of historical communism is, literally, before our eyes: the catastrophe of communism as a world movement, born from the Russian revolution, promising emancipation of the poor, the oppressed, the “wretched of the earth.” Its dissolution gathers speed, outdistancing …