The micro alternative

posted by
August 9, 2011
Adam Smith Institute
by Jan Boucek  
Posted in Commentary

"Financial markets are brutal task masters. Three years ago, they forced due recognition that housing and real estate were over-inflated and over-indebted. This past week, they did the same with western government finances. In both cases, the message from the markets has been clear -- we can’t go on like this anymore. Blame the markets for being rude about it but don’t blame them for being wrong." (08/09/11)  

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