Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
All good points, and I grant that it is conceivable that the world economy can respond to looming resource and labor constraints and be put on a sustainable basis in the medium term.

But what about the oligarchs? In the last ten (30) years, they've managed to capture an ever larger share of the world's wealth, and the bailouts, as you note, rescued them at the expense of our societies. It seems to me that unless some effective wealth transfer mechanism can be put in place, the transition to sustainability will mean plunging the masses into poverty while leaving the oligarchs ensconced in their position.

The fact is that what we're experiencing right now is a top-down disaster. -Paul Krugman

by dvx (dvx.clt št gmail dotcom) on Sun Aug 22nd, 2010 at 04:26:24 PM EST

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