Tag Archives: debt crisis

2016: A Blow to Technocratic Socialism

In 2016, a fissure opened up in the seemingly impenetrable rockface of stultifying Technocratic Socialism. That is unequivocal progress, but it’s also only the beginning of what is going to be a long, uneven, and probably messy global realignment.

Greece’s biggest problem is its anti-capitalist culture

An economic crisis can jolt a fundamentally pro-capitalist nation that briefly lost its way back onto the straight and narrow. But there is no guarantee of this when the culture has descended into infantile anti-capitalism, dysfunctional statism and an antagonism toward entrepreneurial dynamism and self-reliance. For these a crisis may just form part of a […]

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Why credit ratings matter

If the South African government does not tighten its belt, sooner or later it will be forced to do so – or embark on a course of reckless borrowing and/or printing money to fund itself. The consequences of the latter choice, as Zimbabwe showed, can be dire.