I am privileged to be on Keith Hudson’s mailing list. He is an English polymath, a Renaissance Man in the strictest sense of the term. With his permission I am quoting from one of his musings on the present financial crisis. He quickly hones in on the systemic trouble at the base of the problem: that those who are in charge are incapable of comprehending the system, and the lag between the institutions of yesterday and today’s technical and scientifically advanced world.
Here, for the record, is an excerpt from Keith’s recent observations.