The fault, dear Brutus, lies not in ourselves, but in our system ?

February 15, 2010 at 11:37 am Leave a comment

Remember Queen Elizabeth II asked what caused this economic crisis and no-one had a satisfactory answer?

Well, looks like we are getting an answer now. John Cassidy wrote “It is not the product of criminality, myopia or idiocy but of distorted market incentives, misguided government policies and utopian economic ideas – three things deeply enmeshed in our financially driven economy.”

True as it may be, it still does not absolve the blame off individuals who responded to the “distorted incentives, misguided policies and utopian economic ideas” It takes 2 hands to clap together.

“The fault, dear Brutus, is not in our stars, But in ourselves, that we are underlings.” still partially applies.

Entry filed under: Watch your step. Tags: .

Why deflation can be good for the world Charlie munger warning on US downfall

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