Does America need a good dose of instability?
Is the US too stable for its own good? You’d think that stability would be a welcome thing, especially for a country in the midst of an economic downturn making life unstable for millions of Americans. But in a recent post, “Occupy Wall Street, Social Unrest and Income Inequality” (which I found via the Twitter feed of venture capitalist Paul Kedrosky), SEC official (and former financial industry insider) Rick Bookstaber makes the case that stability isn’t an unalloyed blessing when it comes to a capitalist society. I was interested in posting on this general topic, and commenting on Bookstaber’s post is as good a way to begin doing that as any. ...