Subscribe to Dollars & Sense magazine. Recent articles related to the financial crisis. Follow Up on Poterba on Capital MarketsIn my most recent blog post, about last night's event at the American Academy of Arts & Sciences, I said I'd wanted to ask James Poterba, the President of the National Bureau of Economic Research, a follow-up question, and that I'd let readers know if I heard back from him by email.Well--I'm getting a somewhat better impression of him; he got right back to me. Here's my email and his response: Dear Prof. Poterba, And his response: Dear Chris - So I have a good impression of him for getting back to me so quickly, but I still find it pretty astonishing and disturbing that the financial crisis and recession don't seem to have shaken his market fundamentalism one bit. —CS Labels: capital markets, financial crisis, James Poterba, recession
Comments:
Sad. Especially considering that governments can CREATE winners through direct and indirect subsidies, often at the behest of the industry. In American History, that means railroads and the financial shenanigans that accompanied and partially enabled their growth. Think land grants and Indian removal!
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