Welcome to ‘the Great Moderation’

2007-01-19

By Mike LaSalle

We are living through one of the great transformations of modern history: most of the industrialised world, especially the Anglo-Saxon part of it, has enjoyed a period of unprecedented economic stability.

3 views

Didn't make Oprah's Book Club.

And Ronnie doesn't care. Man up. Buy the book now on Amazon.com. Or listen to Ronnie tell a story at escaping-from-reality.com.

http://www.dontmakehermad.com/ John Dias

I would attribute this time of peace (limited to the borders of such industrialized nations) to the maintenance and deployment of nuclear weapons. First World economic powerhouses would not have remained so if it were easier for other countries to attack them. A nuclear umbrella made it unthinkable to attack a nuclear-armed nation, because of the retaliatory consequences.

Perhaps with the possibility now that nuclear weapons could be smuggled and sold by terrorists, there will no longer be a clear enemy to retaliate against. This is the true threat to the “Great Moderation” utopia that the article refers to.

John Dias
http://www.dontmakehermad.com/ John Dias

I would attribute this time of peace (limited to the borders of such industrialized nations) to the maintenance and deployment of nuclear weapons. First World economic powerhouses would not have remained so if it were easier for other countries to attack them. A nuclear umbrella made it unthinkable to attack a nuclear-armed nation, because of the retaliatory consequences.

Perhaps with the possibility now that nuclear weapons could be smuggled and sold by terrorists, there will no longer be a clear enemy to retaliate against. This is the true threat to the “Great Moderation” utopia that the article refers to.

John Dias