Friday, January 21, 2011

The “I Passed, She Flunked Me” Syndrome and the Current Crisis

It is striking how well-equipped humans are to find self-defense mechanisms to any perceived aggression. And the current economic crisis is no different.
There are multiple causes that created the current state of things: regulators, poor management – especially in financial institutions, miscalculation of individual wealth, poor financial criteria, greed and so on.

Despite the apparently large set of reasons that caused the crisis, in some countries, citizens are now devoting a great deal of time to blame governments for their responsibility on, first, creating the current situation and second, their inability to put the economy back on track.

Apart from the questionable positive effect of this effort on promoting recovery, which would not be the objective of this column, the criticism seems to be highly ironic.