Winter is leaving Wisconsin. The snow is gone and the soil unfrozen. Green shoots are appearing.
The same is true of the world economy. We see the green shoots.
Winter purifies the land. We should ask whether business, and the banking system have been sufficiently purified/ cleansed by the last 24 months.
It is easy, with Spring here, to forget about the dead leaves and bare patches of grass.
In my view, there is a risk that business (and banks) quickly return to the self-indulgent ways of working that characterized the pre-downturn years.
If we are to resist proving Marx right, that the boom bust cycles of capitalism would destroy it from the inside, the ethic of prudence and restraint learned during the last years needs to be retained.
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