The Destruction of Economic Facts

Peruvian economist Hernando de Soto writes for BusinessWeek about the importance of truthful information to the success of an economy. Without an accurate picture, the economic system fails to deliver the results we want and need:

Over the past 20 years, Americans and Europeans have quietly gone about destroying these facts. The very systems that could have provided markets and governments with the means to understand the global financial crisis—and to prevent another one—are being eroded.

via The Destruction of Economic Facts – BusinessWeek.

A comment to that article from “Tom” says “The theme of this article – hiding the facts – is pervasive throughout our society. Until we are ready to accept the truth and deal with it, we continue our decline as a great power.”

Hmmm …

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