escalation of commitment

Summary:  Greece had its election.  The pro-austerity party won, despite their policy’s lack of success — and lack of historical for theoretical foundation (it’s contrary to basic economics).  Despite the applause in the banker-dominated news media, it’s unlikely to work, and every month of delay only makes Greece weaker — less able to well-manage an …

Whither Greece after the election? Why do they stay on a doomed course? Read More »