Thursday 30 August 2007

Someone's mad at Adminajad

There's an old saying that when the gods wish to destroy someone, they first drive him mad.

The President of Iran has sacked his central bank chief, as well as replacing the finance minister. He apparently wants to get more control over the economy. Like recently when he ordered banks to lend money cheaply as a means to fight inflation.
One can't help feeling that government intervention is more likely to be the cause of the problem, not the solution.
40% annual inflation, soaring unemployment, an oil-rich country needing to import petrol - sounds more like mismanagement.
Managing a modern economy needs modern methods, not those of the middle ages. Trying to do it during a vast arms build up and useless investment in nuclear armaments - well, that takes some doing at the best of times, and not least a little humility is needed.
Unless he's supposing that all problems can be overcome if you want it enough, in a modern "Triumph of the Will".

No comments: