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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: Ilaine who wrote (90388)	4/5/2003 6:33:37 PM
From: paul_philp	Read Replies (1) \| Respond to of 281500

I'd say unfettered capitalism cocked things up. Now, I can agree with that statement, the change from unbridled to unfettered is key. During periods of great transformation in technology, the old institutions cannot govern in the new situation AND new institutions have not been created yet AND the old institutions still have power and influence so they are dangerous. In the early periods of transformation, there is a massive institutional breakdown. You are correct to say that capitalism is at it's most dangerous during these periods when it is unfettered. History says trade always gets ahead of governance but governance always catches up. BTW, this is exactly my analysis about the source of 9-11 and why I argue that the legacy of 9-11 will be some form of effective global governance - at least as far a globalization goes governance will follow. Paul