http://www.creditwritedowns.com/2009/10/1987.html Finance, Economics and Markets Thu, 09 Feb 2012 23:29:37 +0000 hourly 1 http://www.creditwritedowns.com/2009/10/1987.html#comment-57233 Brian Sat, 03 Oct 2009 18:47:00 +0000 http://www.creditwritedowns.com/2009/10/1987.html#comment-57233 Methinks it's good to mention the roots of hands-off. Too many of us have no idea of its basis nor its recent fashion. And too few tested the math of self-interest and markets. One study [<a href="http://www.econ.jhu.edu/people/CCarroll/indiv_learning_about_c_nber.pdf" rel="nofollow">pdf here</a> by Christopher Carol and Tod Allen at John Hopkins alarmingly points out that no one, not one of us, can live long enough to learn the good rules from the bad ones in a laissez-faire marketplace. History is no science either, but it seems to show that sufficient structure, alert restraint, fair pointers, and vigorous justice is something we must do, well organized and socially. Methinks it’s good to mention the roots of hands-off. Too many of us have no idea of its basis nor its recent fashion. And too few tested the math of self-interest and markets. One study [pdf here by Christopher Carol and Tod Allen at John Hopkins alarmingly points out that no one, not one of us, can live long enough to learn the good rules from the bad ones in a laissez-faire marketplace. History is no science either, but it seems to show that sufficient structure, alert restraint, fair pointers, and vigorous justice is something we must do, well organized and socially.

]]> http://www.creditwritedowns.com/2009/10/1987.html#comment-57231 purple Sat, 03 Oct 2009 16:26:00 +0000 http://www.creditwritedowns.com/2009/10/1987.html#comment-57231 "holding down inflation" means holding down wage growth. That, not banking regulation or lack thereof, is the root cause of the collapse. Holding down wages helps short-term profit, but ultimately creates a consumer crippled with debt. Neo-liberalism was a doomed economic model from the start. “holding down inflation” means holding down wage growth. That, not banking regulation or lack thereof, is the root cause of the collapse. Holding down wages helps short-term profit, but ultimately creates a consumer crippled with debt. Neo-liberalism was a doomed economic model from the start.

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