Completing the trilogy is the book entitled, “Horses in Her Hair: A Granddaughter’s Story”, Rachel Manley’s ode to her grandmother, Edna Manley. As Rachel Manley writes “Looking for the meaning in Edna Manley’s life is baffling if the conundrum is approached headon. She was always more in the weave of life than in the embroidery.
How are such contradictions possible? In my view they are only possible when the analysis is partial or the rationale is unclear. Let me give a couple of examples. One reason for debt restructuring – which is often made by some theoretical economists – is that it helps financial markets to function better and it eliminates moral hazard.