Homines libenter quod volunt credunt
Posted in Competition, Economics Problems, Economists, You Can't Have it Both Ways on Mar 16th, 2011
I’ve just finished reading Joe Stiglitz’s account of the financial crisis. In it he makes the following comment: Competition, in this case, had a perverse effect: It caused a race to the bottom — a race to provide ratings that were most favorable to those being rated. Ughh. I guess being a Nobel Prize winner […]
Posted in Employment on Oct 13th, 2008
During the last business cycle (the recession was in March-Nov 2001), total non-farm private employment fell from a peak of 111.681 million in December 2000 to a trough of 108.231 million in July 2003.
Posted in Corporatism on Oct 2nd, 2008
Professor Steve Horwitz writes: The current mess is thus clearly shot through and through with government meddling with free markets, from the Fed-provided fuel to the CRA and land-use regulations to Fannie and Freddie creating an artificial market for risky mortgages in order to meet Congress’s demands for more home-ownership opportunities for low-income families. Thanks […]
Posted in Corporatism on Sep 26th, 2008
In case you want my views on this bailout plan, it is a weighted average of the views in this Reason forum … with Professor Munger’s getting the heaviest weighting.
Posted in Corporatism on Sep 24th, 2008
about the current financial crisis and bailout plan, you can hear me on Wisconsin Public Radio with Ben Merens. It is a bit long (an hour). My favorite question on the Paulson Plan … “Where Do They Get that $700 Billion Number From?” I actually have not seen a reasonable explanation for where it, in […]
Posted in Corporatism on Sep 23rd, 2008
This is getting funny. As if the mortgage bailout plan wasn’t ridiculous enough, everyone and their brother is now coming to Uncle Hank and Uncle Ben for a little help. You know, for a vital national interest.