Lessons to be Learned

1. Lessons to be Learned Though whether we can apply them is anybody’s guess.

2. Psychology. • The factor of “Cognitive Dissonance” • This means believing what you want to believe, not what the facts tell you. • Greed can make you think like this’ • So, do not expect everything to be based on “rational” thought.

3. Regulation • Can we find some acceptable level of government oversight. • Banks, investment and finance companies, debt and, maybe, human greed. • This is a social issue, and different countries will have different solutions. There is a cultural issue. • But can you regulate a global economy?

4. The “Model” • But what do the public “want” at the end of this mess? • Is it a return to “Cowboy Capitalism?” • Life is not a “Party;” there is a price to pay for all this. • The idea of “Simplification” Is it realistic?

5. Extinction • Should we allow firms to go broke? • Are there companies that are “too important?” If so, should they be allowed to do what they like? • How do we deal with the fact that the British have “nationalized” so many banks? The Americans?

6. Controlling Value • How do you stop the “bubble economy” developing? • It has happened so many times, and it keeps on happening. • Can we relate value to “need?” • Is this a new face of socialism?

7. Public Policy • Where will the debate take place about the future? • Will it just be “fixing the present?” • Who will provide the inspiration and values?