America’s Bitter Harvest

If anything like a national mood can be discovered in America, then we ought to be facing a moment of harsh sobriety. The party is over; the plates are broken; the debts unpaid.

After the Crash. What happened on Bloody Monday, October 19, 1987—the panic of the market—came as Reaganism’s concluding whimper, the collapse of portfolios and delusions. At a time when the real wages of American workers have declined 7.3 percent since 1979, there blossomed among the upper and...