17 Nov, 2011
The west is in danger of frittering away its freedom – FT.com
The US, founded on the principle of liberty, may have a propensity to go to extremes and push the pendulum too far. America’s murder rate, for example, is three times higher than China’s. But it is in economics where this glut of freedom is most obvious. In the name of efficiency, western capital markets have gone wild as recent cries for more regulation attest. The past two decades also saw an explosion of money sloshing around global markets, over 90 per cent of which has nothing to do with trades in goods and services. Now such freedom to speculate is wreaking havoc on many economies.
via The west is in danger of frittering away its freedom – FT.com.
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