"There needs to be a general acceptance that the current model has failed."
May 26, 2009 1:10 PM Subscribe
is a witty and erudite essay by MeFi lurker
John Lanchester in The London Review of Books on how completely and utterly screwed the British economy is. In the process of laying out his case Lanchester touches on varied issues, such Scottish banknotes
, why Alan Hollinghurst's phrase "tremendous, Basil Fawltyish lengths" is applicable to the reaction by the US and UK governments to the banking meltdown, the value destruction of corporate mergers, the invention of modern accounting, and why no one really knows how large a share of the failed banks is owned by governments.
posted by Kattullus (35 comments total)
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