Just when I was worrying that I may be too "out there" along comes establishment thinker Niall Ferguson with a bracing review of USA and a call to action. In particular, this:
The rule of law? For a real eye-opener, take a look at the latest World Economic Forum (WEF) Executive Opinion Survey. On no fewer than 15 of 16 different issues relating to property rights and governance, the United States fares worse than Hong Kong. Indeed, the U.S. makes the global top 20 in only one area: investor protection. On every other count, its reputation is shockingly bad. The U.S. ranks 86th in the world for the costs imposed on business by organized crime, 50th for public trust in the ethics of politicians, 42nd for various forms of bribery, and 40th for standards of auditing and financial reporting.
Now property rights are little understood in USA, especially as to how they limit excess and forbid pollution. But also curious is USA rates highly on investor protection. I'd say check again in a couple of yers and see how protected investors feel. Also, that 3rd party protection is paid for by a 4th party; the first party being the investor and the 2nd being the securities dealer. That security is inherently unstable.
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