Even though I think Martin Wolf has drunk too much 'saving glut' kool aid, I enjoyed this article by him. He makes the point that the different perspectives on the causes of the recent financial turmoil each have a unique perspective on the matter and should not be dismissed out of hand. I agree and hope Martin will follow this thinking in his future discussions of global economic imbalances.
The Financial Turmoil is Like an Elephant in a Dark Room
Financial Times
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