Veil of Ignorance

A telling line from a recent Paul Krugman column (about our inadequate response to the second worst economic downturn in our history), "This doctrine was sold both with claims that there was no alternative — that both bailouts and spending cuts were necessary to satisfy financial markets — and with claims that fiscal austerity would actually create jobs.".

When did our representative democracy, our daily objectives, our standard for achievement and progress, equate to satisfying financial markets?