The unfolding financial crisis in the U.S., which has sparked real fears that it could lead to a deep and long recession on the global scale, is understandably on the minds of many people. Much has been written about it already; specialists from different backgrounds have attempted to contribute to a better understanding of the history, mechanics, and gravity of the situation. Not all attempts are helpful, however, and some are downright intellectually embarrassing. Such is the case at hand.
A team of two professors, Radhika Balakrishnan and Diane Elson, has undertaken in an OpEd (opendemocracy.net, October 16, 2008) to demonstrate that the current economic crisis in the U.S. is a human rights issue. Their principal thesis is the following:
"Both the crisis and the proposed bailout involve violations of the human rights of millions of Americans."