Silicon Valley Calls For The Usual Reforms .... Is This Enough To Matter?

   (Commentary posted by Roger Erickson)

Open Letter on the Digital Economy

Their set of basic public policy changes are the usual, necessary but not sufficient list of vague items.

What would Marriner Eccles have said?

(Perhaps: "Dammit, ya gotta be FAR more specific than that! Now listen up ..... [4 hour lecture, with specifics.]")

General Patton?

(Perhaps: "Hell yes, be far more specific about our Desired Outcomes, but keep our *#+%&! Wall St Central planners from trying to @#$%&! micro-manage HOW we reach 'em.")

Warren Mosler. 

(Perhaps: "What? No mention of fiscal transfers? Remember Mosler's Law? We can do this, in a month. Can we just get on with it? Now?")


What would YOU say?


  That reminds me.  We need to augment Silicon Valley's message with 

an Open Source Letter on the Fiat Economy.

Meanwhile, Silicon Valley's 2nd area of suggestions is a step in the right direction, if still vague.

Second, we call on business leaders to develop new organizational models and approaches that not only enhance productivity and generate wealth but also create broad-based opportunity.

Ya hear that, Greece? Dump "Old Europe" and ask to join the USA. :)