Friday, March 20, 2009

The Big Bad Wolf: Markets? (or Government?)

There is no shortage of "critics" of the markets these days. With the primary target being Wall Street, what's often ignored are the policies that not only enabled "Wall Street" but encouraged (and arguably created) the events that unfolded.

IntelligenceSquared US is a series of debates in NYC that polls the audience before the debate what they think and after on a given topic. Their recent debate had the proposition: Blame Washington more than Wall Street for the Financial Crisis. Before the show 42% agreed, and after 60% (though I am generally fairly skeptical of such things). You can find the transcripts here (courtesy of Paul Kedrosky).

On a related note, William Easterly asks why we're so afraid of "free markets". He seems to take a fairly balanced approach. I try not to fall into some of the ideological traps he notes (of those ideologues like myself). It's well worth the time to read.

No comments: