Market Fundamentalism strikes again. “The Daily Capitalist” on ZeroHedge has given us a recipe for recovery. It’s actually a recipe for disaster..
July 15th, 2010 · Comments Off on Another clueless commentator offering Voodoo economics
Tags: Public Policy
September 7th, 2009 · 3 Comments
Vintage stuff from this year’s Nobel prize winner and one of the best brains around. A wonderful guide to the state of present day (macro)economics. Required reading.
September 3rd, 2009 · Comments Off on Market fundamentalism
We’ve argued many times on these pages it was the biggest root cause of the financial crisis, the belief that the market is always right, government always the problem, never the solution. It is based on a very simple understanding of markets that have little to do with how real-world markets function. Now that same […]
August 31st, 2009 · 5 Comments
There are a lot of people in need of some urgent economics101…
March 27th, 2009 · Comments Off on Even Obama is in the grips of market fundamentalism
Paul, once again, is absolutely spot on..
March 9th, 2009 · Comments Off on Most idiotic article of the day..
Don’t worry. Let it all go. Recessions are self-correcting..
October 14th, 2008 · Comments Off on How about this for a market based solution!
The US government, after much dithering and wasting much time, finally comes up with the right solutions (although perhaps not in sufficient quantity, the jury is still out on that), and the markets vote..
Tags: Credit Crisis
October 14th, 2008 · 1 Comment
It’s the main thing that got us into trouble. Unfortunately, market solutions do not seem remotely viable. Pragmatism is needed now, just figure something out that works. This seems to have been done, although not everybody is pleased with the ideological implications of it..