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They make it sound like this is a new development. Re-reading Veblen's Theory of Business Enterprise (1904) it is apparent things were already like this for all to see 100 years ago.

En un viejo país ineficiente, algo así como España entre dos guerras civiles, poseer una casa y poca hacienda y memoria ninguna. -- Gil de Biedma
by Migeru (migeru at eurotrib dot com) on Fri Oct 16th, 2009 at 08:49:01 AM EST
[ Parent ]
... we've been here before - that's why this time around it was necessary to strip out protections against it happening again before it could be allowed to happen again.


I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.
by BruceMcF (agila61 at netscape dot net) on Fri Oct 16th, 2009 at 09:56:19 AM EST
[ Parent ]
How about this time around we mandate that economists actually learn economic history and the history of economic thought?

En un viejo país ineficiente, algo así como España entre dos guerras civiles, poseer una casa y poca hacienda y memoria ninguna. -- Gil de Biedma
by Migeru (migeru at eurotrib dot com) on Fri Oct 16th, 2009 at 11:38:35 AM EST
[ Parent ]
You can mandate it, but who guards the guardians?


I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.
by BruceMcF (agila61 at netscape dot net) on Fri Oct 16th, 2009 at 05:07:32 PM EST
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