Written about Ireland, but more generally true.
It is remarkable how little attention is devoted to interrogating the political economy model that has led us into the present crisis; indeed, it is rare indeed to even find acknowledgement that such exists. For example, in reading the range of recent books by journalists and commentators on the present crisis, what is striking is the personalist nature of the analysis advanced. By this I mean that the many ills analysed – the poor quality of governance, the too close relationship between politicians and so-called `developers’, the failures of regulation, the growth of a banking culture that threw caution to the winds in its lending practices – are ultimately attributed to the failures of individuals. There is a deeply ad hominem quality to it all.
http://www.progressive-economy.ie/2010/01/interrogating-irish-model.html
I found this on ET http://www.eurotrib.com/story/2010/1/28/11468/2683
