Writing in Wilmott, Rudi Bogni argues that banker-bashing may be a convenient way to mask the inconvenient truth that the demands on our financial systems are unsustainable. Western productivity was not up to the task of generating sufficient wealth to fuel perpetual growth, nor is it likely to be. It required a collective suspension of [...]
Tag Archives: Credit Crunch
This is not a detour on the road to Shangri-la. It's the path to perdition.
January 30, 2009 – 10:33 pm
Sally Buchanan made an important point about the inflation/deflation question in her comment below. We may require a re-alignment of our entire value system. The much-misued Utilitarian term ‘greatest good for the greatest possible number’ might depend on thinking about what we do and how we do it based upon what we, and the planet, [...]
Why inflation is a Good Thing
January 27, 2009 – 4:58 pm
The view that inflation is an evil ‘debasement of the currency’ with terrible social, political and economic consequences is still orthodoxy among central bankers and the vast majority of economists. Over the next few years we are likely to see it return and become embedded in Western economies. This may not be such a bad [...]