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The problem with emergency expert cabinets is that they have to be selected. And the selection pressure will be against dissenting views, because everybody who is going to be doing the selecting is going to be from the old guard that was appointed when times were good and the position was a sinecure. Or even worse, they might realise that they are incompetent, and call in the respected experts - the IMF and ECB. shudder

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Fri Dec 3rd, 2010 at 11:24:08 AM EST
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There is, I think, a more general point.  Bureaucracies are great at handling the Routine and minor variations of same.  They can become seriously dysfunctional when trying to cope with extraordinary circumstances.  There should be no shame attached to admitting that a problem has gotten bigger than you can handle and that you need to call in experts who have a successful track-record of handling similar problems in other areas.  

The problem then becomes one of identifying the most appropriate experts, and unfortunately in this case the establishment experts have all become thoroughly neo-liberalised in recent times.  But that is also a bigger political problem - the decline of social democracy and Keynesian economics throughout "the West".

It seems that the CW is that to compete against China you have to become more like the Chinese... Remarkably that is not my experience of strategic thinking in big business - but it seems to have become the orthodoxy for Governments and academia.

Index of Frank's Diaries

by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Fri Dec 3rd, 2010 at 11:36:32 AM EST
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