Friday, July 29, 2011

Democracy Crisis

I've long felt that while we need a better science of markets and economics in general, one that embraces ideas from other areas of modern science and brings economics up to date, this will never be enough. The recent crisis wasn't just a puzzling episode, a strange and unpredictable financial hurricane; it emerged directly out of the deep influence of financial industry money on governance. There's no solution to financial stability without good governance.

It's a depressing read, but this long essay by Numerian paints a rather bleak -- and all too realistic -- picture of US democracy. Plus some perspective on the debt-ceiling crisis (which I don't pretend to understand in any detail):
"Financial Armageddon may not ensue from this downgrade – the market may just have to get used to the benchmark “risk free rate” being less than stellar, because there is no alternative in market size and liquidity to US Treasuries. Still, it will be a landmark event – an exclamation point to the closing out of the American Century."  (h/t The Agonist)

5 comments:

  1. democracy crisis is a financial embrago because of money reserve. However:
    Clash of Clans Astuce
    Téléchargez le notre Clash Of Clans Astuce Hack GRATUIT!

    Nous sommes très fiers d’annoncer le nouvel Clash Of Clans Astuce Hack! Cet hack clash of clans astuce
    e est vraiment simple d’utilisation parce que nous avons une interface EXTRAORDINAIRE!

    ReplyDelete
  2. This is a fantastic website and I can not recommend you guys enough. Full of useful resource and great layout very easy on the eyes. Please do keep up this great work..online money

    ReplyDelete
  3. Thanks for sharing nice information with us. i like your post and all you share with us is up to date and quite informative, i would like to bookmark the page so i can come here again to read you, as you have done a wonderful job.New Jersey Exterminator

    ReplyDelete
  4. You can leave all the stressful work to us so that we handle it for you and assure you of delivering excellent online nursing essay writers to you all the time in our best custom research paper site company.

    ReplyDelete
  5. افضل واقوى الخدمات الخاصة بأعمال نقل العفش والاثاث بجدة يقدمها موقع خدماتي تحت مسمى افضل الشركات المتخصصة بخدمات نقل الاثاث بجدة المتميزة والمضمونة وتقدم خدماتها باحترافية عالية وتعتبر شركتنا من افضل واقوى شركات نقل عفش جده متميزة ومضمونة وتعتمد على عمالة احترافية

    ReplyDelete