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I wouldn't care except Anglo Disease spreads almost immediately to USA.
You make it sound like Wall Street didn't catch Anglo Disease all by itself. New York and London cross-pollinate and ideologically the UK has been following the lead of the US for decades, not the other way around.

When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill-done. — John M. Keynes
by Carrie (migeru at eurotrib dot com) on Mon Apr 7th, 2008 at 10:55:28 AM EST
Where I came from, there was this thought that USA was an invention of guys like Ben Franklin who started a Revolution to free this country from the grips of the folks who believed that wisdom came from the Bank of England.  And ever since that Revolution, folks from England were trying to reverse the outcome.  With the coming of the Federal Reserve and getting roped into fighting for England in World Wars I and II, the Revolution was undone and now we are just a colony of the City.

This might not be how it happened, but I have met MANY people in my life who believe it to be true.  One of the last times I heard this was when someone told me that Bill Clinton might call himself a Democrat, but when push came to shove, he would revert to his Anglo training as a Rhodes Scholar.  I last saw this guy about three weeks after NAFTA passed and all he could say was, "I told you so."

"Remember the I35W bridge--who needs terrorists when there are Republicans"

by techno (reply@elegant-technology.com) on Mon Apr 7th, 2008 at 04:32:51 PM EST
[ Parent ]
techno:
This might not be how it happened, but I have met MANY people in my life who believe it to be true.
Right, and establishing whether or not that is true with some reasonable confidence would be interesting.

When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill-done. — John M. Keynes
by Carrie (migeru at eurotrib dot com) on Tue Apr 8th, 2008 at 05:36:53 AM EST
[ Parent ]
The folks who believe it true present as their evidence the extensive writings of Ben Franklin and his criticisms of the Bank of England.  Also the instructions in the USA Constitution concerning monetary policy.  I am also old enough to remember when men here in the Midwest weren't considered serious men of affairs until they could defend some complex monetary theory.  So it is not like this topic hasn't been covered. I just was trying to avoid opening THAT can of worms.

"Remember the I35W bridge--who needs terrorists when there are Republicans"
by techno (reply@elegant-technology.com) on Wed Apr 9th, 2008 at 02:58:32 AM EST
[ Parent ]
Has anyone done a study on the cultural differences between the WASP and German/Scandinavian sub-cultures in the US?  

She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre
by ATinNM on Tue Apr 8th, 2008 at 07:28:34 PM EST
[ Parent ]
I have never seen such a study.

But here in Minnesota, the differences between the Scandinavian / German cultures and the WASP culture has left its manifestations all over the place.  In the town where I live, the WASP culture has a college on the east side of town while the Norwegians have their own college and community on the west side.  Both colleges are very expensive and have elite reputations but that is where the similarities end for they are VERY different schools.

The WASPS came from New England, got here early, and created their own upper class ownership presence.  The Nordics and Germans came later and had to claw their way to prosperity through inventiveness and hard work.  The Farmer-Labor Party (who governed during the Depression years) represented in many ways, the immigrant uprising against the WASPS.

The most famous non-Anglo political economist was of course, Thorstein Veblen--the son of Norwegian immigrants in Minnesota.

Of course, the differences have been papered over of late.  The University of Minnesota, the place where Alvin Hansen first introduced Keynesianism to USA in the 1920s, is now thoroughly infected with Anglo Disease.

"Remember the I35W bridge--who needs terrorists when there are Republicans"

by techno (reply@elegant-technology.com) on Wed Apr 9th, 2008 at 02:50:08 AM EST
[ Parent ]

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