The third monthly WikiLeaks Central Competition 2011 asked writers to answer to the question: What are the root causes of the global economic crisis?
The winner is:
This essay was, hands down, one of the finest essays submitted to all three competitions. We encourage everyone to read it.
All the submissions were judged on (i) newsworthiness; (ii) supporting research; and (iii) organization and writing style. (iv) We also considered the submission's capacity to engender online discourse in the form of comments and retweets.
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Doesn't explain crisis
The essay at best is pseudo-intellectual, vague and poetic but explains nothing technical of why the crisis has and is occurring. It seeks to assess the influence of computers upon a global economy but nothing more.
Keynesian economics was a foul system played upon the West after the wretched Breton Woods agreement. Keynes and his socialist economics have done nothing but ruin the world's economies. Keynes hated those that saved and sought a method to destroy the wealth of those that sought to save. Central bank inflation of money supplies and low bank interest rates. Keynesian, like all socialist economies, seek to steal what people have earned and give it to those THEY think deserve it. It's merely theft, plain and simple, with a "legal" decree. Any economic system that forces people to give their money to any cause is wrong and will ultimately impoverish those people.
There are plenty of economists that have completely obliterated Keynes theories. In particular- Hayek and Hazlitt. For a pleasant read try this one- http://www.lewrockwell.com/north/north137.html
Even the most ardent supporters of central banking and fiat currency, world wide, acknowledge the efforts of the central banks to improve the economic conditions of their respective countries, yet they never really blame the central banks for causing the problems directly (which is the source of all the problems). Neither those in favor of or against central banks acknowledge some computer modeling as that which has caused the problem.
Regardless, "Prosperity never came from a printing press". To understand how awful Central banks are one must grasp the notion that "debt creates money". Those two points are the sum of the current economic crisis.
kudos!
well deserved. Congratulation Jp Orient