Comments on: The global crisis of institutional legitimacy http://blogs.reuters.com/felix-salmon/2011/08/22/the-global-crisis-of-institutional-legitimacy/ A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: traduceri daneza romana http://blogs.reuters.com/felix-salmon/2011/08/22/the-global-crisis-of-institutional-legitimacy/comment-page-1/#comment-53667 Mon, 29 Sep 2014 14:02:38 +0000 http://blogs.reuters.com/felix-salmon/?p=9443#comment-53667 I want to exhibit due to you regarding saving me from this form of circumstance. Soon after evaluating the internet as well as getting together with methods wasn’t beneficial, I thought playing ended up being more than. Current lacking typically the ways to the difficulties you’ve categorized available through your content pages is often a crucial circumstance, as well as ones that could include in a negative way damaged my whole profession basically had not came across your website. Your genuine comprehending and also benevolence in holding every aspect ended up being precious. My spouse and i need ideas the things i would have carried out only hadn’t come about this type of place such as this. I’m also able to during this period relish our foreseeable future. Thanks a whole lot on your specialist as well as useful assist. I will not be reluctant to recommend the website to every individual who will be required direction regarding this challenge.

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By: ah89 http://blogs.reuters.com/felix-salmon/2011/08/22/the-global-crisis-of-institutional-legitimacy/comment-page-1/#comment-30774 Sun, 11 Sep 2011 22:37:16 +0000 http://blogs.reuters.com/felix-salmon/?p=9443#comment-30774 It is true that our overall attempt to ‘better” the economy has left us into debt. I do agree with you that this is a cycle in which we are just leading ourselves into bigger debt. I read an article on Europe in which Europe’s government is trying to make a central financial authority sort of like the United States’. It boggles my mind to think that they would want to create something similar to our government even though our government is pretty much ‘failing’ us right now. But it also leads me to question that maybe our overall idea of government isn’t bad, just our leaders making bad decisions.The New York Times

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By: selectricity http://blogs.reuters.com/felix-salmon/2011/08/22/the-global-crisis-of-institutional-legitimacy/comment-page-1/#comment-29967 Tue, 23 Aug 2011 20:03:17 +0000 http://blogs.reuters.com/felix-salmon/?p=9443#comment-29967 As others have pointed out many times, our focus is off, our understanding is off, our trust is misplaced, etc. Magnus was just on Benzinga Radio discussing his piece (The Convulsions of Political Economy). There is a link to the audio here: http://www.benzinga.com/content/1878091/ george-magnus-of-ubs-on-the-great-de-lev eraging

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By: Dafydd http://blogs.reuters.com/felix-salmon/2011/08/22/the-global-crisis-of-institutional-legitimacy/comment-page-1/#comment-29928 Tue, 23 Aug 2011 09:24:15 +0000 http://blogs.reuters.com/felix-salmon/?p=9443#comment-29928 This was a great post.

I blame the net for most of it. The more we know about government, the less we trust it. That makes perfect sense.

Electronic connectivity has brought about a change in human society easily as great as the telegraph and railway of the 19th century combined.

The veil that shielded our elites, even in western democracies, has been lifted.

That is bound to lead to massive upheaval. The more you look at it, the more is looks like the 1930s.

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By: Eastvillagechic http://blogs.reuters.com/felix-salmon/2011/08/22/the-global-crisis-of-institutional-legitimacy/comment-page-1/#comment-29915 Tue, 23 Aug 2011 03:39:25 +0000 http://blogs.reuters.com/felix-salmon/?p=9443#comment-29915 Wait until the poor Libyans discover they have only exchanged a relatively easy medieval lord for a much harder to remove much more efficient corporate lordship…. your thesis implies they have gone from the pot into the fire.

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By: Curmudgeon http://blogs.reuters.com/felix-salmon/2011/08/22/the-global-crisis-of-institutional-legitimacy/comment-page-1/#comment-29905 Mon, 22 Aug 2011 22:54:57 +0000 http://blogs.reuters.com/felix-salmon/?p=9443#comment-29905 This was really good. There’s just one problem – you haven’t convinced me that our view of institutional legitimacy hasn’t been the same or worse at times in the last 50 years (not, of course, that you’re required to convince me of anything). In that time, we’ve experienced race riots in the US in the 1960s, war protests leading up to the killing of college students by the national guard in the 1970s, extreme labor violence in the UK in the 70s, and the fall of communism in the Soviet Union in the 1990s, just to name a few. There are many more equally dramatic examples of people running up against established institutions.

It’s not clear to me that this is any worse than any of that. It may simply be a part of civilization figuring out what it wants to be when it grows up.

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By: BrunoBehrend http://blogs.reuters.com/felix-salmon/2011/08/22/the-global-crisis-of-institutional-legitimacy/comment-page-1/#comment-29901 Mon, 22 Aug 2011 20:23:59 +0000 http://blogs.reuters.com/felix-salmon/?p=9443#comment-29901 Some of the critiques above are cogent, but the fact is that this article is mostly correct.

My take on the situation is the that elites on both sides of the political spectrum, and in the business community have failed. They have gamed things in their favor, and the citizenry (again, on both sides of the spectrum) is reacting to these failures.

We know that capitalism works, and we know that it produces enough wealth to create workable “safety nets.” What no system can do, is pay for both a corrupt and greedy set of elites (Big Union, Big Biz, Big Gov) AND a safety net.

It’s time to toss failed institutions like political parties, ruling elites, worthless education and banking bureaucracies, and the “controlled chaos” of the bureaucratic regulatory state.

These institutions DESERVE to have lost the trust of the people. What is needed now is NOT a new trust in newer, better institutions, but a renewed trust in our ability to govern ourselves.

If you can’t govern yourself, you WILL be governed by someone, and probably very poorly.

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By: soolebop http://blogs.reuters.com/felix-salmon/2011/08/22/the-global-crisis-of-institutional-legitimacy/comment-page-1/#comment-29885 Mon, 22 Aug 2011 16:33:53 +0000 http://blogs.reuters.com/felix-salmon/?p=9443#comment-29885 with so many ppl @ the bottom for so long and the natural recycling of wealth being artificially held off for so long it’s no wonder the cracks in western society are so large now.. When I say recycling of wealth I don’t mean redistributed, I mean that when the crashes happen if they were allowed to happen the ppl @ the top who made mistakes would have fallen & they would have opened opportunities for ppl on the bottom to rise up, this hasn’t been allowed to happen so ppl @ the top are infected with moral hazard to the 10th power and ppl @ the bottom see no way up for the most part, so what you see is only nature taking it’s long overdue course. If your @ the top not by your wit & hard work but by federal prop, nepotism or social favor then you are coming down. If your @ the bottom by no fault of your own and prepared & still preparing the you will rise when the opportunity presents itself…. It’s the ultimate paradigm shift..

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By: wpw http://blogs.reuters.com/felix-salmon/2011/08/22/the-global-crisis-of-institutional-legitimacy/comment-page-1/#comment-29876 Mon, 22 Aug 2011 14:28:40 +0000 http://blogs.reuters.com/felix-salmon/?p=9443#comment-29876 I don’t agree with all the details but I agree with the general theme of a decline in confidence in institutions. I think there is an alternative strategy for those of us who do not believe the continuing rule of the current oligarchy is sustainable or desirable, and do not believe the Austerians have the solution (or have a cure worse than the disease). That is to create new institutions, along a more cooperative model, to provide some economic security, social cohesion and perhaps political influence. Credit unions are the most obvious example but the potential and the need is much greater.

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By: frobn http://blogs.reuters.com/felix-salmon/2011/08/22/the-global-crisis-of-institutional-legitimacy/comment-page-1/#comment-29875 Mon, 22 Aug 2011 13:51:05 +0000 http://blogs.reuters.com/felix-salmon/?p=9443#comment-29875 When I read your posts I get the impression that you are a fan boy for BAU. Our economic system has already collapsed only zombies are still standing. Its time to move on.

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