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Showing posts from November, 2011

Understanding Our Confidence Crisis

Generally, I am not in favor of reducing things to their most digestible. We live in a complex world and reducing things to "good vs. bad" is rarely helpful. Topics take time to sift through and understand. This is only natural. Although, I also agree, sometimes a step back to the fundamental issues at hand is helpful. With few notable exceptions (Alan Woods, Martin Wolf), commentary surrounding Europe's debt crisis has been muddled at best and purposefully confusing at worst. If you aren't fluent in the technocratic economic vernacular of the various talking heads, things can get a bit distorted.

First off, it should be noted the crisis in Europe is not simply an "economic" crisis. It is a crisis of a certain kind of economics- a certain way we produce and distribute goods. It is a crisis of Capitalism. What started as a banking crisis in the United States has morphed into a national debt crisis in Europe. This has been complicated further due to the stra…