Analyzing the social contract

Interesting bit by Josh Marshall

We’ve been in the midst of the reporting on the AIG bonus story and related high-octane blow-ups over compensation and the behavior of key players in the finance sector. And we’ve seen a non-trivial number of complaints that we’re sensationalizing this or that story or engaging in ‘cheap’ populism. Beside the reporting innards of the story, though, what interests me about this meta-story is the way it shows the implicit social contract under deep strain and some people operating totally outside of it without realizing it at all.

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