Struggling with Success

|Peter Boettke|

Anne Krueger provides an interview discussing her forthcoming book on globalization and the financial crisis.

Comments

[Richard Ebeling]

Anne Krueger is always worth reading and listoning to. She is thoughtful and insightful.

But the necessary international insitutional reforms that she suggests should be considered and introduced mostly require extensions of many of the same international insitutions and arrangments that got the world (including the American) economy into the mess we are in.

She, of course, points out the hypocricy and inconsistency in many of those who have made and continue to make economic policies.

But to "save" the system requires a more radical change away from political and politicized market arrangements and institutions.

And saving it for a better "tomorrow" may inescapably require severe adjustments, losses, and writedowns "today."

And they cannot be papered over through European Union "bailout" mechanisms or sleight-of-hand tricks that cover the attempt to save private and soveriegn debts through the European Central Bank printing press.

We are caught up in the long run consequences of long-developing Keynesian and interventionist-welfare statist short-run policies.

And there may be no "soft-landing" options.

Richard Ebeling

[Ed Weick]

Richard,

Please recommend literature that will elaborate on your "And there may be no "soft-landing" options" comment.

Ed Weick

[Peter Boettke]

Richard,

You will not be surprised that this point that we are now in the long run consequences of the legacy of Keynesianism will be a major theme in the book I am working on right now --- Against Triage Economics.