Thursday, August 30, 2012

Seems A Sudden U-Turn For The Better In The German-Italian Economic Relationship

Posted by Peter Quennell





This has been a tense time for both leaders. Just a few days ago nasty words were surfacing in the media on both sides.

But quite suddenly things are looking up. Ms Merkel praises Mr Monti and Italy just got the best price for its bonds since March.

Still the deep insecurities persist. Hard to see such a fine people so down.

Posted by Peter Quennell on 08/30/12 at 04:01 AM in The wider contextsItalian context

Comments

Insightful article by an Italian economist now in Chicago, he is from Padua.

http://www.economist.com/blogs/prospero/2012/08/quick-study-luigi-zingales-crony-capitalism

Posted by Peter Quennell on 08/30/12 at 05:05 AM | #

The quick study article on crony capitalism is really to the point. And I broadly agree with the points made by the author, although I am no economist.

I have often joked that the two most successful socialist countries in Europe are France and Italy. But both need to be careful as they are going to be attacked by crony capitalists!

Neither socialist or capitalist systems offer any inbuilt mechanism against corruption. Yes, I mean corruption at high places, and this is the most vulnerable point that needs to be strengthened.

Left to itself, both systems decay to “jungle-Raj” where money is power and power is right and the king can do no wrong. But no country in Europe is nowhere near that. Their greatest asset is education which is preventing the collapse of the system to “nowhere”.

Only grumble I have is that the intellectuals there are reluctant to take the leadership roles. They need to come out and make hard choices for the masses. There is no other way to move forward. Did I say hard choices?

Germany will survive the capitalism because of their intense fondness for the rule of law: german laws are simple, unambiguous and enforceable. But who can see the future?


  (1) Capitalism is based on the assumption that you can win.
  (2) Socialism is based on the assumption that you can break even.
  (3) Mysticism is based on the assumption that you can quit the game.

Posted by chami on 08/30/12 at 05:55 PM | #

Hi Chami

Yeah the tendency for established corporations and billionaires to actually become market-averse and befuddle politics to give them permanent edges seriously slows growth, because it is so hard for new ideas and new companies and new people to break through. Its usually legal but it snows the democratic process, as does all the false advertising addressed at populations.

This tendency is one of three or four main reasons for slowing growth all over the world now and we could conceivably all face quite a desperate situation. And slow growth ultimately hurts absolutely everybody, 100 percent, banks and other corporations and billionaires included, all of who also need growth.

The tragedy of the commons writ large!!

I’m optimistic though that what is finally known now about fast growth management once fully out there and in all hands and brains would compel just about everybody toward the sensible middle and realign their compasses. Surprising things happen from very small beginnings. Our pro-victim site here seems to be beyond what anyone else tried so far, and might lead to other better sites in future.

Posted by Peter Quennell on 08/31/12 at 02:53 PM | #

I just noticed this on AK and RS’s facebook ‘fan’ page:

“The former boyfriend of Amanda Knox will talk publicly for the first time about the relationship he had with the West Seattle native and the murder of her roommate in Italy. Katie Couric has landed an interview with Raffaele Sollecito, for her new TV talk show that begins next month, simply called “Katie.” In promoting the show, Couric says Sollecito talks for the first time on American television about the 2009 murder of Meredith Kercher. He will discuss life after his time spent in an Italian prison and his reunion with Knox.”

The interview is scheduled for Sept 18th.

http://www.facebook.com/pages/Amanda-Knox-and-Raffaele-Sollecito/106344459390034

Posted by Spencer on 09/05/12 at 02:49 PM | #

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