osewalrus (osewalrus) wrote,
osewalrus
osewalrus

I'm Glad Greenspan Admits Error

http://www.nytimes.com/2008/10/24/business/economy/24panel.html?bl&ex=1224993600&en=da694ed4921c5e8b&ei=5087%0A

What I shall be interested in seeing is whether other Chicago School accolytes begin to accept that fact that you cannot simply assume rational actors respond to your choice of stimulous instead of other stimulous chocies -- as well as the overall problems of information and risk assesment in an increasingly opaque market. A market made more opaque by deregulation and the incentive of rational actors to make it opaque.
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