"There are quite a few theories and a deepening economic debate swirling around. Even Marx is being selectively resurrected to help explain what is going on. Everything can contribute something, but the less useful parts merely add to the noise and confusion.
I think the situation is a little more simple than many portray, but it is ironically elusive to most people's minds as they distort their models to accommodate the new realities, which are little different from the old realities, at least in the historical context. Reform is a slow horse to leave the gate when the games are still fixed.
Fraud is, after all, a confidence game. But when confidence fails, all the con men have left is fear and greed, and the darker emotions that come with them. So let's talk about anything and everything except what really happened, and make that discussion as complex as possible. Let's not fix what is broken, in small manageable bites. Let's attempt to reinvent and reorganize the entire system. As in corporations, when management fails, time to reorganize and redivide the power amongst the power brokers, rather than actually fix anything.
The sad truth is that most economic models are artificial constructs that crush the life out of reality according to the bias of their authors, and are used to justify behaviours that are in the self-interest in whatever group that promotes them. This is because except for some very basic ideas, macro-economics is not a science, but much more significantly a public policy discussion with some mathematical relationships added, and those largely of a statistical estimation...."
at http://jessescrossroadscafe.blogspot.com/2011/08/time-for-review-economic-power.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+JessesCafeAmericain+%28Jesse%27s+Caf%C3%A9+Am%C3%A9ricain%29
I think the situation is a little more simple than many portray, but it is ironically elusive to most people's minds as they distort their models to accommodate the new realities, which are little different from the old realities, at least in the historical context. Reform is a slow horse to leave the gate when the games are still fixed.
Fraud is, after all, a confidence game. But when confidence fails, all the con men have left is fear and greed, and the darker emotions that come with them. So let's talk about anything and everything except what really happened, and make that discussion as complex as possible. Let's not fix what is broken, in small manageable bites. Let's attempt to reinvent and reorganize the entire system. As in corporations, when management fails, time to reorganize and redivide the power amongst the power brokers, rather than actually fix anything.
The sad truth is that most economic models are artificial constructs that crush the life out of reality according to the bias of their authors, and are used to justify behaviours that are in the self-interest in whatever group that promotes them. This is because except for some very basic ideas, macro-economics is not a science, but much more significantly a public policy discussion with some mathematical relationships added, and those largely of a statistical estimation...."
at http://jessescrossroadscafe.blogspot.com/2011/08/time-for-review-economic-power.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+JessesCafeAmericain+%28Jesse%27s+Caf%C3%A9+Am%C3%A9ricain%29
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