Sunday, August 22
When Her Majesty Queen Elizabeth II asked the economists at the London School of Economics in November 2008 how come they had not seen the current crisis coming (a question which was surely on everyone's lips but which only a feudal monarch could so simply pose and expect some answer), the economists had no ready response. Assembled together under the aegis of the British Academy, they could only confess in a collective letter to Her Majesty, after six months of study, rumination and deep consultation with key policy makers, that they had somehow lost sight of what they called 'systemic risks', that they, like everyone else, had been lost in a 'politics of denial'. But what was it that they were denying?
— David Harvey, The enigma of capital: and the crises of capitalism
