Big in economics
With that, we’ve got to go for a new, gentler capitalism. I don’t know what figure it will stabilise around – 2, 6, 12? – but my options would be to place it as low as possible. Inevitably, anyway it will eventually – if we want to have a future – crystallise to as near for 1:1 as possible. We have some way to go though.
Now, fundamentally, we must question degrees is economics. For instance, how many degrees in economics are as absurd as the system which spawned them? They called it a ‘science’ but it was not. There were too many variables. Eventually, all the humanities probably have to come down somewhere.
So, economics has been burst. It’s probably no harm. There were too many of them qualifying as “economists” for decency purposes. They rather lost the run of themselves. Their models work in a pre-programmed world but this not the REAL world as they are fond of demonstrating themselves.
Their world was a fiction, an outrageous fiction in which multiples of 100 were perfectly acceptable. This is the world President Obama, Prime Minister Gordon Browne, President Nicholas Sarkozy, Chancellor Angela Merkel, China’s Hú Jintao and the others have pledged to fix. We wish them well but how are they to do it?
Too many ‘red-braced, collar not same colour as shirt, chalk-stripe wearing men’ had it too easy for too long. They even came to believe their dope! That, yet again, has proved ‘fatal’. Hubris undoes us again!