Satyajit Das in Euro Intelligence has written a clear concise and pretty damning explanation of why business as usual will not be an option following the global financial crisis (GFC). Here is an excerpt..
“Demagogic debates about the ideological differences between neo-liberalism, compassionate capitalism and social democracy are unhelpful. In truth, all competing economic philosophies are underpinned by the same reliance on growth and built to fail economic models.
The world needs to adjust to a new economic order and a world of reduced expectations. In the short run, the primary focus surely should be to dealing pragmatically with the GFC and its potentially devastating human and social costs. There will be time enough for recriminations and blame.”
This is the third of three parts. I will hunt out the others for you.
—- EDIT: Found them—–
Part 1: The End of Ponzi Prosperity
Part 2: Whatever it Takes
