Zeev, I am sure you are not holding your breath on people learning from history. I might have said it before here, but it was Hegel who said that the only thing man learns from history is that he does not learn anything from history. Add to this the general lack of interest in such a subject, or economic history for that matter.
The ever increasing pace of technological progress and the distractions that it brings, does not bode well for us.
Take the India bomb business. It has been stated that they had no technical reason to do it. So it was a show of macho. However,
these weapons have now been developed and there is no way they can be controlled. Even if they are controlled for few decades, what is hundred years in the life man.
Our leaders are meeting to devise and new system of checks for
money flows in the world. I hope that they understand the first thing about innovation. Namely, once an idea has been advanced and seen to work, there is no holding back. A technological imperative. If it can be done, it will be done. This is not only true of hard technology, but applies of course to invention of financial instruments etc.
I am watching the Asian markets again bleed tonight, although at this writing not as bad as before. We may have the correction at hand here also right now.
Seppo |
