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One quibble. I am not sure we want to detach financial analysis from policy analysis, as it is one (of many) very important tools for setting prioritisation of policy and of asset allocations for everyone's benefit.

Rather, I'd argue that the important thing is that such analyses be grounded in an outlook which takes the whole of our society into account, from the interests of the working class first and then moving up. Much of today's problems can be traced to an Anglo-American societal defect which imposes tops down solutions bearing first and foremost the interests of the wealthy.

And, they must pay for this.  

PS - The Economist (for whose parent company I worked for) made themselves irrelevant in the late '90's by going after the US market for growth. A good short term strategy but it required them to tqck ever further to the neo-liberal right in order to stay relevant in America. And, as we are seeing now, relevant in America is bad business for all.

Fai de bèn a Bertrand, te lou rendra en cagant

by redstar on Sun Mar 8th, 2009 at 06:55:38 AM EST
The problem that "financial analysis in the public interest" shares with things like, say, looking for a cure for cancer, is that it is much less profitable (in the short term) than financial analysis for wealthy gamblers.

Most economists teach a theoretical framework that has been shown to be fundamentally useless. -- James K. Galbraith
by Migeru (migeru at eurotrib dot com) on Sun Mar 8th, 2009 at 07:00:38 AM EST
[ Parent ]
There is no problem with that which cannot be solved by confiscatory taxation of wealth.

- Jake

If you only spend 20 minutes of the rest of your life on economics, go spend them here.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Sun Mar 8th, 2009 at 07:23:14 AM EST
[ Parent ]
Beat me to it.

And, long overdue.

Fai de bèn a Bertrand, te lou rendra en cagant

by redstar on Sun Mar 8th, 2009 at 07:32:04 AM EST
[ Parent ]

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