Ralph Nader has made IMHO an excellent contribution to the discussion of what can be done to prevent future crises on Wall St such as the current one. Here are seven avoidance indicators which outline what Washington is not doing to prevent another round of greed and misdeeds by the Wall Street few against the … Continue reading Nader: Seven Steps the Obama Admin is NOT Taking to Fix the Banking Crash, Why Not?
I will comment further at LCC Global Perspectives Conference, but All the idols of capitalism over the past three decades crashed. The assumptions and presumptions, paradigm and prognosis of indefinite progress under liberal free market capitalism have been tested and have failed. We are living the end of an entire epoch: Experts everywhere witness the … Continue reading Change in Econ Systems: The era of US-dominated Globalization ending
I will have more to say on Tuesday at the LCC Global Perspectives Conference, but it's not pretty. The planet's in trouble. Both the IMF and World Bank are now forecasting an outright fall in global output in 2009, with a larger contraction than previously forecast in the advanced economies and sharply lower expected growth … Continue reading worst global economic crisis since the 1930s
China believes the developing world should have a stronger say in how the international financial system is run via G20 must look beyond the needs of the top 20 | Wang Qishan - Times Online.
Anatole Kaletsky indicts the modern economist profession for the current crisis in the Prospect: Was Adam Smith an economist? Was Keynes, Ricardo or Schumpeter? By the standards of today’s academic economists, the answer is no. Smith, Ricardo and Keynes produced no mathematical models. Their work lacked the “analytical rigour” and precise deductive logic demanded by … Continue reading ‘Goodbye, homo economicus’: Apparently economics is thin-skinned