Crisis! What crisis?

One can hardly fail to be aware of the current crisis in the world of finance and you don’t have to look hard to find the media (and the politicians) laying the blame squarely at the feet of the banks. It’s the fault of the banks, they scream; if the banks acted in a more responsible manner, etc – but, of course, banks are NOT to blame because banks are inanimate and have no capacity to act on their own. I even thought I’d seen such a respectable newspaper as The Economist make the same mistake – but they hadn’t (fortunately!!).
If we want to allocate blame (and who doesn’t) then we need to look at root causes and the fault lies with PEOPLE. Now, people are capable of … Read the rest of this entry »