The point is that Beer's viable systems model VSM which was the theoretical basis for the project is worth a second (third and fourth!) look in the light of the current mess that unregulated free market capitalism has created. BBC rules mean I can't ram the point home but Google/Amazon "Viable Systems Model" to find out more.
The main beauty of it is that the science is unarguable and if you apply it to modern society it is not only still relevant it accurately explains why things went wrong. (For those in the know my assessment is a failure in Systems 2 (FSA/Treasury/BoE) and System 4 (no proper scenario analysis)
Any politicos out there; I urge you read (and take the time to understand) the books!
Ambrose Evans Pritchard in the Telegraph today raised what seems to be the next big phase of the crisis, Eastern Europe debts held by Western Europe's banks; and the likelihood of defaults in ex Soviet satellites and even Russia itself.
It all remind me of a conversation I had with an employee of the European Bank of Reconstruction and Development on a plane in 1995. When I asked what he thought of the plans for the Euro he replied (and I quote) "if it goes ahead there will be war between France and Germany within 20 years". I was so shocked that I forgot to ask him to explain before we landed.