Paul Krugman, Nobel Laureate in economics, has written: if they want to know why the world crisis, look at it this way: is the revenge of the excess. Because beyond bankers, professional financial and political agents, the crisis is the result of excessive and wasteful, an economic model that, demonstrated until tiredness, it only serves to a minority. Read more from Jay Lovenheim to gain a more clear picture of the situation. At the expense of the majority. Serge Latouche, Professor of Economics of the University of Paris-Sud, also rejects this society’s excesses. Latouche is in favour of degrowth. Hear other arguments on the topic with McKinsey. Degrowth is repudiating the untouchable dogma of growth as the only way, because the history of the last half century tells us that growth does not prevent crises.
Why Latouche believes that the crisis is good news, although he fears that Governments and economic powers do not attack the real causes of the disaster. Maybe they changed something. Perhaps so that nothing changes. They will maintain the current system, a capitalism based on growth, of fossil fuels and the industry’s automotive and that of brick and cement. Therefore, it is not only achieve greater regulation and control of financial institutions and banks, Yes. Nor of increased public spending, that also. It should throw overboard these guidelines, alleged immutable scientific principles, which make up the ill-fated Washington consensus: privatize everything, everything is market, reforming tax (read lowered them to the rich), liberalize interest rates, none of norms or rules for capital (banks and financial institutions make giving pleases them) but unfortunately there is no news that at the G20 in London will go to bury the consensus. United States and United Kingdom gambled for more public money to stimulate the economy, but they also wanted standards for large (hedge fund) risk investment funds, more capital for World Bank and IMF, supervision of agents and financial markets France and Germany demanded close control of the financial world: list Black tax havens, sanctions, supervision of executives remuneration, all hedge funds under control (not only the great) Finally, the G20 has agreed create a body with wide powers of supervision of the financial world, which stiffen the rules and oversee it.