Oh Boy ! From The Dog Himself !
www.iht.com...
In the end, the political and economic systems can be harmonized in only one of two ways: by creating an international political regulatory
system with the same reach as that of the economic world; or by shrinking the economic units to a size manageable by existing political structures,
which is likely to lead to a new mercantilism, perhaps of regional units.
IE: Either Way - Relinquish National Sovereignty
The financial and political crises are, in fact, closely related partly because, during the period of economic exuberance, a gap had opened up
between the economic and the political organization of the world.
The economic world has been globalized. Its institutions have a global reach and have operated by maxims that assumed a self-regulating global
market.
The financial collapse exposed the mirage. It made evident the absence of global institutions to cushion the shock and to reverse the trend.
Inevitably, when the affected publics turned to their national political institutions, these were driven principally by domestic politics, not
considerations of world order.
Every major country has attempted to solve its immediate problems essentially on its own and to defer common action to a later, less crisis-driven
point. So-called rescue packages have emerged on a piecemeal national basis, generally by substituting seemingly unlimited governmental credit for the
domestic credit that produced the debacle in the first place - so far without more than stemming incipient panic.
International order will not come about either in the political or economic field until there emerge general rules toward which countries can orient
themselves.
www.iht.com...
Has He No Shame?
Nope !
We Must Be On A Fast Track Now
Your thoughts?
added link forgotten due to earlier excitement
[edit on 1-12-09 by atoms.2008]
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