Failed experiment

Recent turmoil in the EU has provided additional impetus to those who want to "regulate markets" to protect the public at large. Since the current regulations had failed to protect the commoners, it is unclear how new ones will do the job. In the EU crisis, the debate should really be about monetary and fiscal policies and how they should be designed to maximize societal utility. For nearly 50 years now, it has been clear that fine tuning monetary policies and enacting fiscal stimuli are not ...

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Published on May 06, 2010 17:34
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