There is no chance this kind of hemorrhaging of human life would be accepted anywhere else other than Africa.

Millions marched for the great causes of the day, and hundreds of thousands joined political parties often for life. Today s marches and demonstrations are a feeble reminder of those times, while parties everywhere are hemorrhaging members.

Capitalism s three stabilizing devices lost their efficacy. While rich countries reacted more quickly and more wisely in stimulating their economies than in 1929, and the hemorrhaging of banks was stanched, this has not been enough to boost growth.

If internal devaluation were the solution, the gold standard would not have been a problem in the Great Depression. Internal devaluation, combined with austerity and the single market principle (which facilitates capital flight and the hemorrhaging of banking systems) is a toxic combination.

In short, Arab countries are hemorrhaging social capital, which can significantly derail economic recovery and state building. As the Nobel laureate economist Kenneth Arrow argued in 1972, much of the economic backwardness in the world can be explained by the lack of mutual confidence.

But I noticed that most of the food that I was giving my pigs was in fact fit for human consumption, and that I was only scratching the surface, and that right the way up the food supply chain, in supermarkets, greengrocers, bakers, in our homes, in factories and farms, we were hemorrhaging out food.

Thus, even if the Chinese authorities can somehow keep their capital controls from hemorrhaging as the country s financial system becomes more sophisticated and decentralized, they will not be able to stop the controls from dying a death of a thousand cuts. After that, China will be able to keep its exchange rate pegged only by slavishly following US interest rate policy, which makes no sense for such a large and diverse region.