Well, some might not have a chance actually. For example, Niall Ferguson keeps insisting that there's another way of addressing (and paying off) enormous public debt (he prescribes this for Greece in particular, but the US too): privatization of infrastructure and other things, I suspect including national parks, too.
That approach, of course, fails to explain how would the system be reformed in any way, to prevent further indebtedness. So what would happen is paying that debt one time, privatizing a lot of stuff, and then the system piling a new debt again. He's healing the symptoms, not the disease.
Back to square one, then?
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Date: 6/1/12 23:46 (UTC)That approach, of course, fails to explain how would the system be reformed in any way, to prevent further indebtedness. So what would happen is paying that debt one time, privatizing a lot of stuff, and then the system piling a new debt again. He's healing the symptoms, not the disease.
Back to square one, then?