http://moneycreditandfinancialsystems.com Fri, 02 Jul 2010 00:40:24 +0000 hourly 1 http://wordpress.com/ http://moneycreditandfinancialsystems.com/essays/chapters/#comment-13 Fri, 02 Jul 2010 00:40:24 +0000 http://moneycreditandfinancialsystems.wordpress.com/#comment-13 [...] The real question is whether there’s any way to avoid this pain that doesn’t bring even more disastrous consequences in its wake. After all, it isn’t hard to make the case that our current impasse is the direct cumulative result of decades of repeated refusals to wear short-term pain. This, in my view, is where the true policy failures occurred (although there’s been no shortage of errors in the various responses to the crisis as well). For anyone with a similarly obsessive interest in these matters, they’re explored in greater depth in “Money, Credit and Financial Systems: Are Crises Built into Their DNA?”. [...]

]]> http://moneycreditandfinancialsystems.com/essays/chapters/#comment-12 Thu, 01 Jul 2010 02:46:31 +0000 http://moneycreditandfinancialsystems.wordpress.com/#comment-12 [...] The real question is whether there’s any way to avoid this pain that doesn’t bring even more disastrous consequences in its wake. After all, it isn’t hard to make the case that our current impasse is the direct cumulative result of decades of repeated refusals to wear short-term pain. This, in my view, is where the true policy failures occurred. There have also been plenty of serious errors in the various responses to the crisis, of course. For anyone with a similarly obsessive interest in these matters, all these errors (both before and after) are explored in greater depth in “Money, Credit and Financial Systems: Are Crises Built into Their DNA?”. [...]

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