As the global economic crisis deepens, the curtain is drawn back to reveal the roots of the problem. This article is the perfect complement to several of the others I've posted recently. It looks deeper into the problem of entrenched oligarchies that control the financial and political agendas.
Simon Johnson is the former chief economist of the International Monetary Fund (IMF). He is not afraid to speak plainly.
Summary:
The crash has laid bare many unpleasant truths about the United States.
One of the most alarming, says a former chief economist of the
International Monetary Fund, is that the finance industry has
effectively captured our government—a state of affairs that more
typically describes emerging markets, and is at the center of many
emerging-market crises. If the IMF’s staff could speak freely about the
U.S., it would tell us what it tells all countries in this situation:
recovery will fail unless we break the financial oligarchy that is
blocking essential reform. And if we are to prevent a true depression,
we’re running out of time.
From The Atlantic Monthly: The Quiet Coup
http://www.theatlantic.com/doc/print/200905/imf-advice
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