Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Unfortunately, "efficiency" has been used to justify consolidation which has let to monopoly profits. This will, shortly, be shown, again, to lead to instability. We need to understand that "efficiency" and "stability" exist on a continuum and that the goal must be a balance. Hyman Minsky understood this and pointed out how long periods of apparent stability will lead most to conclude that stability is the natural order of things. When policy and law is changed so as to be based on this understanding the stage is set for collapse. And so it was from 1970 to today.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Mon Nov 14th, 2011 at 09:43:35 AM EST
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