In lieu of the global credit crisis, I wonder if Mr. Weisberg would like to revisit his criticism of this book, particularly regarding the third section about the debt economy. As far as I can tell, Mr. Phillips accurately warned us over 3 years ago about the dangers of financialization of the economy back when the only people even familiar with the concept were the bow-tie set at college Econ Departments. His assessment was spot on about the affects of deregulation of financial markets and the increase in trading of debt instruments on the economy. The FIRE (financial, insurance, and real estate) sector now makes up 20-25% of the US economy. It employees a small fraction of the number of people per GDP than does manufacturing and the income distribution within that sector of the economy is grossly distorted compared to other sectors. But more importantly, it is the unsustainable nature of the financialized business model that trades in debt instruments and bets on derivative markets that has put our economy in danger. Mr Phillips spelled this all out over two years ago.

As for the religious right, do you really think Terry Schiavo has destroyed their influence on the republican party? Sure, there has been backlash and recent awakening of the left-leaning evangelical, but if your assessment were true, then why has John McCain moved so far to the right to secure republican votes? why is he seeking out endorsements from religious leaders he has previously excoriated? And if the religious right is so unimportant now, then why are the democrats trying SO hard to woo the evangelical vote?

The religious right is by far still the biggest voting block of the republican party and if you want to continue ignoring that fact, you will continue to be ignorant of the majority of the country that exists between the east and west coast.

your review of Mr Phillips book reads more like a personal vendetta than it does one based on a reasonable assessment of the contents.