It is time to stop quivering in our boots in pointless fear of the future and just roll up our sleeves and build it.
- Ray Pierrehumbert

Friday, December 19, 2008

The Financial WTF in Context

Walden Bello has put together a fascinating presentation putting the financial crisis in context.

It's more leftist in tone than I'd like, and I'm not sure it adequately understands the irrationality of growth addiction, which really is shared by left and right.

Also a couple of the slides are misformatted.

All that said, it does focus on the key role of manufacturing overproduction and excess capacity in the present financial disaster. I think it's a very helpful and insightful summary and I am definitely adding it to my conceptual arsenal. Maybe you should do likewise?

I stole the wonderful image from the presentation. It's based on what for all I know is, or at least once was, a heavily advertised bubble bath product called Mr. Bubble.

1 comment:

tidal said...

Simpler, more direct url is http://focusweb.org/pdf/wallstreetmeltdown-beijing-oct-17-2008.pdf