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This is the reason I liken the current situation to that of the subjects of some benighted kingdom being held in thrall to an evil wizard by the wizard's evil spell. Several ingredients of that spell are Randian in derivation.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Wed Oct 13th, 2010 at 11:55:44 PM EST
The economists and financial analysts are just like wizards, magi or high priests, if that is not an insult to actual wizards, etc. They just come out, tell that it will rain all summer inflitaion will be this, GDP will be that, unemployment will drop - and we just have to believe.
by das monde on Thu Oct 14th, 2010 at 06:22:46 AM EST
[ Parent ]
... are the Chamber of Commerce, National Association of Manufacturers, American Petroleum Institute, the National Mining Institute, the National Restaurant Association, and I forget the sixth of the Dirty Six.

I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.
by BruceMcF (agila61 at netscape dot net) on Thu Oct 14th, 2010 at 06:47:13 PM EST
[ Parent ]
He, I have been thinking along similar lines, but more adapted to the fall of the Soviet Union. One of the oft-mentioned reasons for the collapse, was the downfall of central planning.

As it grew, it became more complex, making it harder for anyone to have an over-view. As rewards were coupled to delivering the right numbers, the right numbers were delivered from the units of production, without them properly representing any actual increase in production or quality. Central command was then left with a lot of faulty signals. Adding to this, environmental and social problems grew and was not captured at all in the numbers delivered to central command, except when tipping ecological or social balances to the point of dramatically disturbing the numbers reported.

I think the resemblance with our current crises is striking. The monetary systems signals are fudged by the banks funny money, the planned economies are run for the glory of the CEO, and ecological disasters are counted as net gains by causing a higher price-tag on remaining resources.

Sweden's finest (and perhaps only) collaborative, leftist e-newspaper Synapze.se

by A swedish kind of death on Fri Oct 15th, 2010 at 11:49:41 AM EST
[ Parent ]
Que Orlov.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Fri Oct 15th, 2010 at 01:52:11 PM EST
[ Parent ]

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