I Am Not Going To Say I

If We Didn't Have Greed, Market Economies Wouldn't Be As Innovative As They Are. But In My View, Greed Has To Be Contained By The Fear Of Losses, So There Has To Be A System Where, If You Take Too Much Risk, You Go Into Bankruptcy. You Don't Systematically Bail Out People Who Take Excessive Risks.

Edward Conard Provides A Provocative Interpretation Of The Causes Of The Global Financial Crisis And The Policies Needed To Return To Rapid Growth. Whether You Agree Or Not, This Analysis Is Well Worth Reading.

I Am Not Going To Say I Told You So, But I Did.

Once You Run Current-account Deficits, You Depend On The Kindness Of Strangers. This Might Be The Beginning Of The End Of The American Empire.

I Believe In Market Economics. But To Paraphrase Churchill - Who Said This About Democracy And Political Regimes - A Market Economy Might Be The Worst Economic Regime Available, Apart From The Alternatives. I Believe That People React To Incentives, That Incentives Matter, And That Prices Reflect The Way Things Should Be Allocated. But I Also Believe That Market Economies Sometimes Have Market Failures, And When These Occur, There's A Role For Prudential - Not Excessive - Regulation Of The Financial System.