...the cards were stacked in favor of a debt binge parading as financial "innovation." No amount of innovation can spare a nation from the pain of unsustainably high debt levels.Sadly true, though I've noticed some economists being introspective. I don't follow law blogs as closely, so I'm not sure about them.
Runaway debt combined with runaway unemployment poses a major threat to our standard of living, yet our leaders and our mainstream media seem oblivious to the problem. Mainstream Law & Economics is similarly bankrupt.
Thursday, October 15, 2009
The Corporate Justice Blog speculates about Runaway Debt: