However, the trouble has been not so much with the inter-temporally evolved architecture of finance, capitalism and globalization as really with how it was actually worked in practice. The apocalyptic denouement, almost bordering on a veritable global financial and economic nuclear winter, happened not because the existing systems and best practices failed but because those responsible for implementing, and enforcing, them failed them!
John Maynard Keynes said the objective of “analysis is … to provide ourselves with an organized and orderly method of thinking out particular problems .… This is the nature of economic thinking.” 1 This is very much the tradition of the Economic Club of Canada, which offers an important forum for analysis and discussion of economic issues, certainly those we have had to address since the onset of the global financial crisis.