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The sicknesses of economic excess mirror those of insufficiency and want of an earlier era.
But this crisis was born of economic excess as well as financial folly; given the torrent of capital flowing into America, Britain, Spain and so on, almost any financial system would have gone wrong.
These descriptions of economic excess are balanced by portraits of those who have not benefited from the Indian economic boom, such as the Naxalites – the Maoist rebels who are fighting an insurgency against the Indian state – and the domestic servants who get down on their knees to mop the floors while the country's software engineers tap away on their laptops.
The alternative view is that the stockmarket bubble also created an economic bubble as the surge in share prices and inflated expectations about future prospects encouraged economic excess in the shape of over-investment, over-borrowing and a collapse in savings.
Every period of so-called economic excess invariably ends with the media and politicians discrediting the symbols of the alleged greed that characterized the era.
To anyone in doubt that exchange controls are a cure for economic excess the way that decapitation is a cure for a hangover, I recommend David Roche's column "The view from the ivory tower," on page 46.
Similar(52)
United and its rivals are all victims of the economic excesses of the late 1990's.
Those officials said that the economic excesses of the 1990's were still weighing on the economy.
We think a good deal of the economic excesses of 1999 and early 2000 have been wrung out.
In short: economic excesses and years of fleecing the public are finally catching up with the industry.
They want the military power of the U.S. to function effectively for the stability of the region but want to restrain U.S. political and economic excesses.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com