Wednesday, February 29, 2012


...the great Satyajit Das, in a recent piece criticising The Economist newpaper's treatment of a special report on Financial Innovation:

"In David Hare’s play The Power of Yes, Adair Turner, head of the English FSA, is asked whether the fact that nobody understood what was going on was an issue. Turner responds that no, it wasn’t a problem as, for people like Alan Greenspan, it was just a matter of faith. The Economist follows their mentor’s modus operandi."

A matter of faith indeed. The Eunuch class in form and action. A new priesthood where order is not derived from the power of The Church and the Divine Right of Kings upon agrarian renters, but one of the comfortable and repetitive tranquility of commerce and trade.

So, what happens to world order if international trade is decreased by 5%? By 20%? By 50%?

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