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James Howard Kunstler on Glass-Steagal

August 10, 2010

James Howard Kunstler writes, with reference to the 2,300 page, 72 megabyte financial reform legislation: The Glass-Steagall act was under forty pages. Why not just correct the mistake we made eleven years ago and vote it back into existence?

His idea makes me think about the terrific essay by Clay Shirky on The Collapse of Complex Business Models, which in turn received inspiration from Joseph Tainter’s 1988 book, The Collapse of Complex Societies.

The point being: systems can become so complex that they cannot self-correct or adapt, and so can only “fix” themselves by falling apart.

Are we nearing that moment in the United States?


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