QuoteSometimes simple and bold ideas help us see more clearly a complex reality that requires nuanced approaches. I have an "impossibility theorem" for the global economy that is like that. It says that democracy, national sovereignty and global economic integration are mutually incompatible: we can combine any two of the three, but never have all three simultaneously and in full.Dani Rodrik, The inescapable trilemma of the world economyWhat do you think guys? Is this man a genius or not?P.S. It's about existence of philosophers in the Anglo-Saxon World as recently discussed somewhere on Wilmott.

Genius!One central problem is that it is too easy for people to want what they cannot have and for politicians to promise it to them. It's easy to promise job protection, early retirement, and great benefits -- who, in their right mind, would vote for the spoil-sport politician that says we can't have these things. And it's even possible to hide growing fiscal, monetary, and economic imbalances through rolling debt, sleight-of-hand accounting, cleverly-adjusted government statistics, and political bravado. A rather frightening number of world economies seem to be violating the laws of physics, but as long as people agree to lend them money, those laws need not apply.