In Unchecked and Unbalanced, Arnold Kling provides a blueprint for those who are skeptical of political and financial elitism. At the heart of Kling's argument is the growing discrepancy between two phenomena: knowledge is becoming more diffuse, while political power is becoming more concentrated. Kling sees this knowledge/power discrepancy at the heart of the financial crisis of 2008. Financial industry executives and regulatory officials lacked the ability to fathom the complexity of the system that had emerged.
Arnold Kling was an economist on the staff of the Board of Governors of the Federal Reserve System from 1980-1986 and served as a senior economist at Freddie Mac from 1986-1994.