The Principle of Subsidiary Function

I trust my readers will recognize a hint of sarcasm if I say that the good news just keeps on rolling in. Of the smoke plumes that were rising into the industrial world's increasingly murky skies as last week's post went up, one – the billowing cloud of assorted mis-, mal- and nonfeasance bubbling out of Goldman Sachs – has faded from the front pages for the moment, though it will doubtless be back before long. On the other hand, the two remaining – the cratering of Greece's borrow-and-spend...