Much Shorter and Considerably Poorer Megan McArdle: I find myself in a crises of faith. What if my God, the Free Market, doesn't reward me? What if--Markets Forbid--equilibrium is nothing but a mirage, a chimera? No, no! It cannot be! There must be market equilibrium! I believe, St. Milton! I believe! Let the market atheists cash in their 401ks--as the Free Market is my witness, I still have faith!
Meanwhile, in the vestry, the bankers are screwing over the little stock owners.
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4 comments:
The free hand is not perfect, but take a look at what's going on in Greece, and the rest of the EU thanks to profiligate govt spending. I'll take the free hand. Also, just to be clear, the financial crisis is a result of FED monetary policy. not even close to the free hand.
There is more than one reason for what's happening in Greece. I'm mocking McArdle's concept of free markets, which has no relation to reality.
"...what's going on in Greece, and the rest of the EU thanks to profiligate govt spending///
pro-fili-gate spending AND not raising taxes.
And letting the rich evade taxes.
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