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Why would companies try to become better if there are not constant cost pressures? If you keep devaluing, status quo will seem ok, and there will be no reason to try to become better. Keep in mind that there won't be many, or perhaps zero, domestic competitors in a small, highly specialised and trade-dependent economy.

As Kjell Olof Feldt, social democratic minister of finance during the 80's in Sweden said: devaluation is like peeing your pants; first it feels good - then it doesn't.

Peak oil is not an energy crisis. It is a liquid fuel crisis.

by Starvid on Sun Mar 17th, 2013 at 12:11:16 PM EST
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