Interesting point

Excerpted from Michael Lind, originally posted at The Spectator,

Why has a global calamity produced so little political change and, at the same time, so little rethinking? Part of the answer, I think, has to do with the collapse of the two-way transmission belt that linked the public to the political elite.

But there is a deeper, structural reason for the persistence of turboparalysis. And that has to do with the power and wealth that incumbent elites accumulated during the decades of the global bubble economy.

Think about what has been happening in the US and Europe. Two major economic regions in disarray. Yet people are numb. They do not know what to say. They do not know what to think. They are totally lost. No new ideas are discussed.

Maybe the analysisi in the book Why Nations Fail may help in finding an answer.

George Dagnino, PhD Editor,
The Peter Dag Portfolio.
Since 1977
2009 Market Timer of the Year by Timer Digest
Portfolio manager

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