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Wednesday, January 15, 2014

Martin Wolf "Failing elites threaten our future" -

Failing elites threaten our future -

three visible failures.
First, the economic, financial, intellectual and political elites mostly misunderstood the consequences of headlong financial liberalisation....  The rescue was necessary. But the belief that the powerful sacrificed taxpayers to the interests of the guilty is correct.
Second, in the past three decades we have seen the emergence of a globalised economic and financial elite....
Third, in creating the euro,... The eurozone crisis is not just economic. It is also constitutional.

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