Tuesday, October 12, 2010

Kathleen Parker's Article on The Economic Crisis

The article Kathleen Parker wrote in The Washington Post on October 13 on the current global economic crisis, has some shocking points, especially the following:
"...the cozy relationship between Wall Street and Ivy League academia, wherein economists push policies that benefit them financially, is eye-opening. In some cases, business professors and economists at America's top schools were shown to have conflicts of interest as they advanced policies for which they had been paid directly or that otherwise benefited them"
I still don't know what to get out of it and other points that the writer of this article claimed might have contributed on this crisis. It feels strange reading the story of "culpability"and collusion from public officials, for whom the highest form of trust was put upon by their constituents. Reading this mind numbing article, the title of Joseph Conrad's more than a hundred year old novel comes to mind, "The Heart of Darkness", where the author depicted the brutal exploitations of human beings for the sole reasons of unabashed greed. Sometimes, the real life events can surely overcome the crafted plot of a novel. A rigged game, in the field of cricket or in the abuses of market system, brings sadness and the profundity of human inherent weakness from greed, that can only be kept in check by pristine regulations and laws. When the policies behind these regulations and laws themselves are scammed, what is the solution then?

Article link: http://www.washingtonpost.com/wp-dyn/content/article/2010/10/12/AR2010101203723.html

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