Economist Bernard Lietaer has an interesting paper on handling the current financial crisis. It’s based on the interplay between efficiency and resilience. http://www.lietaer.com/images/White_Paper_on_Systemic_Bank_Crises_December.pdf Lietaer's main point is that in going all out for efficiency, economic managers have failed to pay attention to the importance of resilience, which requires such seemingly 'inefficient' features such as redundancy. … Continue reading What the world needs now is… efficiency plus resilience →