… “in theory Capitalism works. In theory.”
What will the economic crisis do to:
1) The age at which we “settle down,” marriage or otherwise? (Jana’s question)
2) The allocation of talent between industries and professions?
3) The rate of innovation, financially or otherwise?
4) Worldwide economic integration?
My initial guesses would be 1) reduce it slightly 2) better align it to the optimal 3) stagnation over the next year, rapid acceleration of the next five 4) further integration as worldwide capital gushes to shore up financial institutions everywhere.
It is not immediately obvious to me that a dislocation and rebuilding of our economic infrastructure is necessarily a bad thing. Although it certainly won’t be pretty in the short term.