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The flaws of the EU's asymmetric approach to imbalances | 132 comments (132 topical, editorial, 0 hidden)
Re: Self-censorship (4.00 / 2)
(With the most amazing nonchalance, they've dismissed the whole notion of moral hazard, once taught with such stern authoritarianism when the subjects and lessons had to do with third-world macro-economic thriftiness, as no longer being very important.)

No, no, you still see moral hazard trotted out to explain why Greece needs to be punished, cannot default, and cannot have its debt rolled over at a discount.

Moral hazard, like other economic concepts, is used selectively in support of political goals.

Economics is politics by other means

by Carrie (migeru at eurotrib dot com) on Fri Jul 22nd, 2011 at 08:59:51 AM EST
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The flaws of the EU's asymmetric approach to imbalances | 132 comments (132 topical, 0 editorial, 0 hidden)
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