22 February 2010

A Summary Of What Went Wrong

Slate: Basically, It's Over
A parable about how one nation came to financial ruin.
In the early 1700s, Europeans discovered in the Pacific Ocean a large, unpopulated island with a temperate climate, rich in all nature's bounty except coal, oil, and natural gas. Reflecting its lack of civilization, they named this island "Basicland."

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