Joe Stiglitz writes an important essay, and it is suggested that you take the time to read it. It helps to explain many of the things we have been saying, including the forecast that 'a new school of economics will rise from the ashes of this crisis, as Keynesianism rose from the Great Depression.'
These are changes of an historic nature, and as such they will progress slowly, and be largely unnoticed by those going about their daily business.
But the tides of change have been loosed, and what we have known, and relied upon, and expected will be shaken to its foundations.
Wall Street's Toxic Message by Joseph Stiglitz - Vanity Fair (pdf)
