Over at Economists View , there is a post disputing, to an extent, a new study by Michael Bordo and Christopher Meissner that disputes the idea that inequality caused the crisis. I can't resist reprising my mangle of inequality idea, with a few changes from the way I originally formulated it after my friend S.'s wedding. As the discussion begins as one about cause, and I am all about conditions, I suppose I ought to say something about cause. Cause is difficult. Cause is an impossible quest. And it is made all the more impossible as economists bring a cumbersome machinery to the problem, which is pledged to a model forged from the idea of the market, of equilibrium, and of some kind of surreptitious base/superstructure idea - that is, one finds out the micro-foundations of macro-economic events, and we all go home then, to watch American Idol. I say nay, though, in bloggy thunder. Rather, I want us to go back and understand what
“I’m so bored. I hate my life.” - Britney Spears
Das Langweilige ist interessant geworden, weil das Interessante angefangen hat langweilig zu werden. – Thomas Mann
"Never for money/always for love" - The Talking Heads