"The world’s real deficit is of ideas
Wednesday, August 10, 2011
DAVID JUDSON
As the world’s and Turkey’s markets swoon, currency values gyrate and global investors rush back to their chalkboards, a moment please to focus on the real “deficit.” America and Europe can pay their bills and Turkey can get its increasingly messy house in order. The real problem is not a lack of credit but a lack of political credibility. That, in turn, is a result of the most important deficit: a deficit of ideas."
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