I believe that the only important structural obstacles to world prosperity are the obsolete doctrines that clutter the minds of men.
The current system, which is driven by interest rates, and slicing and dicing credit as investment is badly broken.
Putting countries in debt in the name of globalization, and then acting like they are our indentured servants, to be bullied into doing the debt holders bidding, has proved to be unproductive and as Krugman suggests dangerous.
B Rational has a diary up about a different article but the same concepts that I did not see before posting this. He comes to much different conclusions than I do, and I attempt to answer some of those criticisms here.
Comments :
Nice turn of phrase
I believe that the only important structural obstacles to world prosperity are the obsolete doctrines that clutter the minds of men.
The current system, which is driven by interest rates, and slicing and dicing credit as investment is badly broken.
Putting countries in debt in the name of globalization, and then acting like they are our indentured servants, to be bullied into doing the debt holders bidding, has proved to be unproductive and as Krugman suggests dangerous.
I'm only half stupid
Criticism and Reply
B Rational has a diary up
about a different article but the same concepts that I did not see before posting this. He comes to much different conclusions than I do, and I attempt to answer some of those criticisms 
here.
We are all mediators, translators. - Derrida
I got your $700 billion right here
I'm not sure how we can save the economy without a steep tax increase. Omlettes, eggs, etc.
The top 200 families make the same as the rest of us combined. You figure out the math.
Check Out John's Recent Diary...
...and listen to F.A. Hayek
.
Underlying all arguments against the free market is a lack of belief in freedom itself. ~M. Friedman