With so many blogs already in existence, why yet another?
The global financial crisis is also a crisis in economic education. Economic education is now a debt-financed lobotomy. University graduates who populate the ranks of business and government have made decisions and implemented policies which are destroying our economies.
The fallacies contained in economic textbooks have been taught as scientific facts which have guided decisions and policies everywhere. The consequence is a global economic system which is collapsing.
The reforms and economic initiatives will hasten the collapse because they are mostly bolder and more exaggerated actions based on the same fallacies which caused the crisis in the first place. There have been no new economic ideas which are likely to change the course of policy.