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Time to jettison pre-crisis theories

Accept that governments and markets can both be wrong.

If the world is too complex and unpredictable for either markets or governments to achieve social objectives, then new systems of checks and balances must be designed so that political decision-making can constrain economic incentives and vice versa.


ALL over the world today, there is a sense of the end of an era, a deep foreboding about the disintegration of previously stable societies. In the immortal lines of WB Yeats's great poem, The Second Coming:

"Things fall apart; the centre cannot hold

Mere anarchy is

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