Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
But this is exactly the problem that Stiglitz was talking about (someone posted his column recently, but I don't have time to look for it now.)

i.e. Neoliberalism is at heart the belief, the faith that markets are always automatically self-correcting, stable and tend to equilibrium.

It's just not true, but until we beat the knowledge that it's not true into the average economist and the average politician we're not going to get very far in reforming the system.

by Metatone (metatone [a|t] gmail (dot) com) on Thu Jul 10th, 2008 at 12:16:45 PM EST
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