The results will, I fear, make it difficult for the United States to pursue a coherent policy. While the new Republican Speaker John Boehner is a pragmatist, the ideological and support base gap between his party and the Democrats in control of the White House is quite wide.
Month: November 2010
THE CRISIS REVEALS PROBLEMS IN PENSIONS, HEALTHCARE, EDUCATION, ENERGY AND FOOD, COMPANY LAW, AND GLOBAL ECONOMIC MANAGEMENT. BUT IT ALSO CREATES THE POLITICAL SPACE TO SOLVE THEM
The current economic crisis has brought forward some changes that were inevitable or were already taking place at a slower pace. The credit boom in western countries, that was fuelled by Chinese savings, was an anaesthetic that prevented the symptoms of underlying difficulties from emerging. We need to redesign global capitalism so that it faces up to long term problems of the kind the credit boom shielded from our view