Deregulation is at the heart of the current economic crisis. Unfortunately, we learned this lesson too late, due to the fact that our willingness to listen to the voices of reason has been nearly non existent since the 1980′s.
Thomas Geoghegan is a Chicago based lawyer and has recently written a article for Harper’s Magazine titled “Infinite Debt: How Unlimited Interest Rates Destroyed the Economy.†In his article Geoghegan explains the fine details of how our economy went from being based off of real interest on labor, to unreasonable interest on debt.
Thomas also recently did a interview on Democracynow.org where he explains more of his article and what he hopes the new Obama administration will do to help alleviate our current crisis. I highly recommend this video if you are interested in learning more about the types of deregulation that have plagued our economy since the 1960′s.
Voices of reasons are what we need, not politics and greed.
Watch Thomas Geoghegan’s interview on Democracynow.org
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