Capitalism, as communism and as any economic, social or political system has been created by the human mind. The human mind, surely capable of doing good, is sick at its roots. One of the healthiest minds in the 20th century, Mahatma Gandhi, once said “there is enough in this world to satisfy everyone's needs but not to satisfy one man's greed” He would probably make the greatest economist today but he would definitely not be invited to deliver a lecture on Economics at Harvard university, would he Mr. Rogoff? Too dangerous.



Greed is not only present in those who work in Wall Street or in the banks whose reckless lending practices precipitated the current crisis/chance. Greed is in me and it is most probably in you too.



“Market-based solutions” sounds derisory at this stage of the game, an oxymoron of sorts. Those solutions might work in the short term, would benefit the financial elites and their cohorts in the medium one and would die causing new havoc among most of the population. Am I being too pessimistic? Maybe I am. I am also playing the game of the economist: predicting the future as if economics were a science.

