Capitalism Without Failure: Capitalism: ""You cannot have capitalism without failure."
Jim Rogers was referring to the lunacy of using public money to preserve failed private enterprise in a “capitalist” economy. That is what we did, after all. We saved failed institutions, failed individuals, and failed thinking. That is wrong on many levels. But we went a step further: we saved dishonesty, criminality, and corruption. That is a far more serious proposition.
Bill Black is arguably the most important voice when it comes to the criminality that was preserved. If you are not well-versed in the criminal aspects of the crisis and in Gresham's Dynamics, the following is an important video to watch (note: the quality of the video work is poor but the substance is superb - filmed 2/18/2010):
Powerpoint slides from the presentation can be viewed here.
"
'via Blog this'
No comments:
Post a Comment