Welcome to Political Economy
By Neil Irwin
At some point in the last couple of years--I would place it sometime after Lehman Brothers went down but before the automakers were bailed out--Washington became the financial capital of the world.
It is an unlikely financial capital, a town where the obsessions run more toward power than money. Lloyd Blankfein, the chief executive of Goldman Sachs, was paid nearly $10 million last year. Ben Bernanke, perhaps the most powerful economic policymaker on earth, made $191,000. But the decisions made on Capitol Hill and in the White House, in the Treasury Department and at the Federal Reserve, the International Monetary Fund and the World Bank, will ultimately determine the future prosperity of people from Arlington to Addis Ababa.
Welcome to Political Economy, a new blog from the financial staff of The Washington Post that will chronicle and analyze those decisions. We will offer an up-to-the-minute focus on the economy, economic policy, and the interplay of business and government more broadly. We aim to explore the details of policy, offer interviews with key decision-makers, and tell you what we know from running around town on our respective beats.
And we'll even try to have some fun, too, occasionally looking at the lighter side of economic policy (such as it is).
So bookmark us, put us in your RSS feed, Tweet away. And let us know how we're doing: E-mail lead blogger Ariana Cha or individual reporters to let us know what subjects you'd like to us to cover more, or if you have questions about things in the news that you would like to see answered.
And, shhh, nobody tell Bernanke that he's underpaid.
July 14, 2010; 6:00 AM ET
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