Economic students think they know how real economies work. We’re not so sure whether they’ll still think that after reading the following three articles, the first one we’ve published before, but it is so excellent, we’ll do it again. But it’s all quite compelling stuff..
- The Quit Coup, how big finance has captured US politics, by Simon Johnson, ex chief economist of the IMF
The lesson to take away from this: markets are not like those abstract versions we encounter in economic textbooks, and nor do they work in a vacuum. They need a proper institutional and regulatory environment.