Out of control. Heard on NPR this morning that 60% of the movers and the shakers at Davos believe that central bankers can’t control/manage the global economy anymore. Implication: it’s too big, complex, and fast for these organizations to manage. This is a big shift in thinking that puts them in line with the global guerrilla thinking re: the decline of the nation-state, more frequent black swans, etc. [John Robb’s Weblog]
If it’s really taken 86 years for just 60% of “the movers and the shakers” to notice that central planning of the economy doesn’t work, we probably can’t expect them to recognize the benefits of capitalism any time soon.
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