Global Mess


Economic theorists attempt to explain the current and future economic environments by looking at the only data they have, the past. Sure, it is important to learn from the past, but with the dramatically changing economic condition (more global interconnectedness, more debt than ever etc etc) no other time in history has been like the present. As Krugman put it, “It’s much harder to say where the economics profession goes from here. But what’s almost certain is that economists will have to learn to live with messiness.” To solve this economic puzzle, tough group discussions must take place that address the real issues (leverage and mortgages to name a few) and create solutions, which may require a long hard look in the mirror. This nation was founded on hardship and tough decisions, so let U.S. return to our roots. No more politician patty cake (Do you think the founding fathers wrote the Declaration of Independence sitting around drinking tea and singing kumbaya?) no more half hearted attempts to fix the economy over 20 years, let’s roll up our sleeves and get a little messy.

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8 Responses to Global Mess

  1. Alyssa Haglund says:

    There is no time like the present! With the global economy really in the hole, why are we constantly pointing fingers overseas with the worry that they will default on their debt? In case anyone forgot, we were just in the same situation and of course chose to raise the ceiling, but is this actually helping? There are obviously underlying problems here within our own country which need to be addressed, now.

  2. aml028 says:

    Wow what a great blog. I think you are right that our country has to start take actions to correct our present issues and to not point the finger and talk about it. No offense to anyone but you see more and more college students wanting to be white collar and not blue collar. Too many people want to go into the financial industry to earn the easy buck by making a few good investments. I think that’s one of the reasons why our economy is in the condition it is now. People became too risky and careless with their and other people’s money because they wanted to earn large amounts of money and to excessively expand their companies.

  3. jte004 says:

    I greatly agree with this post. People need to stop worrying about who is right and wrong and start focusing on what is right and what is wrong. What does the country need and how are we going to accomplish this? Should be the questions that every economist and financial advisor should be researching and investigating, because until we stop focusing on the “who” and start focusing on the “what” and “how”, the country is going to continue to run in circles.

  4. Jordi says:

    Josh,

    I love the sound of your expression “what is right and wrong” instead of who. Lovely.

  5. Jordi says:

    I like to think that the goals of a liberal education, such as Bucknell seeks to provide to those who grasp it, can help address the kind of blinders the post discusses. Does having a broad and “unsettling” education help one avoid pitfalls of myopia, especially when people are so well-compensated for relying on the apparent surety of the past to project the future?

    • mcardinute says:

      Having a liberal arts education gives students a broad understanding of the world around them, instead of focusing or specializing in one particular area. It also gives students the opportunity to shed new light or provide new insights on how to fix our current situation instead settling for the present approach. In a sense, studying different areas that might or might not be of any interest to students, allow them to constantly exercise their minds to think critically and analytically in an sequential fashion, and to come up with conclusions from any batch of given information. In other words, obtaining a liberal arts education will allow us students to go anywhere and do anything!!!!

  6. knr004 says:

    I completely agree with this original post and I thought it was really well put. I think it’s so true that we are always looking for a clean cut solution to all of our problems. Especially when it comes to politics, no one is willing to step on a few toes to get things done. People in Washington are concerned with one thing: re-election. It is no wonder nothing gets done. I feel like politicians themselves have become so removed from society that they are almost like celebrities. How could they possibly know how to fix something they do not actively participate in. Just watching the republican debate on tv I couldn’t help but feel like every candidate was a perfectly constructed Ken doll who was always wearing either a red or blue tie. They didn’t seem real to me. Washington needs real down to earth people who are going to stop playing “politician patty cake.”

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