[OPE] Stiglitz, How to prevent the next Wall Street crisis

From: Jurriaan Bendien <adsl675281@tiscali.nl>
Date: Sun Sep 21 2008 - 03:16:12 EDT

Mr Stiglitz, who is a liberal, is suddenly taking a very illiberal position, becoming a policeman - some people have got out of control, and should be curbed, punished and constrained. Even so, he thinks that whatever is done to curb the wrongdoers, they will find a way around any stricture on their behaviour anyway.

This is a pure apologetics - blind to the system that traders find themselves operating in, insensitive to their predicament, and unable to specify any alternative for progress beyond saying that "people ought not to be able to do certain things". His critique is terribly shallow, focusing on symptoms rather than the real causes.


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Received on Sun Sep 21 03:18:18 2008

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