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"If you're not doing anything wrong, you have nothing to worry about." Many Americans have said this, or heard it, when discussing the expanded surveillance capabilities the government has claimed since 9/11. But, it turns out you should be concerned. Just ask peace activists in Pittsburgh, anti-death penalty activists in Maryland, Ron Paul supporters in Missouri, an anarchist in Texas, groups on both sides of the abortion debate in Wisconsin, Muslim-Americans and many others who pose no threat to their communities. Some of them were labeled as terrorists in state and federal databases or placed on terror watch-lists, impeding their travel, misleading investigators and putting these innocent Americans at risk. The Fourth Amendment requirement that you must be suspected of wrongdoing before the government searches your private records risks becoming a quaint notion. Congress weakened the laws designed to protect our privacy, while the executive branch secretly re-interprets or simply ignores the law with no consequence. While your privacy is being sacrificed, there's little evidence the new spying programs are catching terrorists. The question should be, "If you're not doing anything wrong, why is the government snooping on you?"

Nothing quite makes neoclassical economists go apoplectic than reading or hearing the argument that an increase in the minimum wage doesn't cause unemployment. Just ask David Card and Alan Krueger (here's one example, from Gary Becker).

The US mortgage debacle shows that in today's America, the proud claim of "justice for all" is being replaced by the more modest claim of "justice for those who can afford it." And the number of people who can afford it is rapidly diminishing.

Alan Simpson and Erskine Bowles, the co-chairs of President Obama's deficit commission, have signaled for months that they are not friends of Social Security. In August, Simpson, a former Republican senator from Wyoming, wrote that Social Security is "a milk cow with 310 million tits." Last February, Bowles, who made his fortune on Wall Street and served as a top aide in the Clinton White House, boasted in a speech to bankers, "We're going to mess with Medicare, Medicaid and Social Security."

Karl Marx was right, it seems, in arguing that globalization, financial intermediation run amok, and redistribution of income and wealth from labor to capital could lead capitalism to self-destruct. So what can be done to prevent that outcome?