'..We need a programme of reform that rivals the post-war settlement in its radicalism, but which heads in precisely the opposite direction.'<blockquote>'The first policy implication is straightforward enough. Governments have to come up with credible plans to eliminate their deficits and stabilize, then reduce, their levels of accumulated debt. Put simply they need to cut spending and live within their means. But they also need to do more than that. They need to fundamentally reform the state. They need to roll back bureaucracy, free up entrepreneurs, and reduce the burden of welfare. We cannot achieve what we need to achieve through efficiency alone. And we cannot pretend that governments can continue to do everything they currently do. We need a programme of reform that rivals the post-war settlement in its radicalism, but which heads in precisely the opposite direction.
..
..The reality is that doomsday is probably not upon us. If we get things wrong, then, yes, we may face a prolonged period of Japanese-style stagnation. But it is also possible that we could get things
right. We could emerge from our current troubles with a brand of capitalism that is more robust, and better able to deliver real, lasting, sustainable prosperity than ever.
Ultimately, economics is all about
choices. Right now, we just need to make the correct ones.'
- Tom Clougherty,
Are we doomed?, 7 August 11</blockquote>
Context<blockquote>
(Banking Reform - English/Dutch) '..a truly stable financial and monetary system for the twenty-first century..''.."financial slavery" that grips the world .. are of high human and personal cost..'Honest Banking</blockquote>