A Thought on the Economy

Fr. Haller writes good sense based on working in the Pit. Let me add my negligable two cents worth.

This credit crunch and market crash corresponds—as far as I can tell—concurrently with the end of cheap oil. Yeah, it’s bouncing around $100 a barrel now, much lower than the summer’s $140’s—but do you ever think we’ll see $20 or $40 again? Me neither…

We need a new economic paradigm that takes seriously both communication technology and the energy reality. Here’s my take: Keep data global; keep stuff local.

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2 Responses to A Thought on the Economy

  1. Gabriel says:

    NPR’s “This American Life” just did a show explaining what happened and why. It’s been the clearest, most sobering, and most frightening explanation of the current economic meltdown.

    http://www.thisamericanlife.org/Radio_Episode.aspx?episode=365

  2. Thanks for the pointer, Gabriel, I’ll have to give it a listen!

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