Comments on: How did the “free market” fail us? http://dangerousintersection.org/2008/12/20/how-did-the-free-market-fail-us/ Human Animals at the Crossroads of Culture, Science, Religion and Media Sun, 21 Mar 2010 22:43:44 +0000 http://wordpress.org/?v=2.7.1 hourly 1 By: Erich Vieth http://dangerousintersection.org/2008/12/20/how-did-the-free-market-fail-us/comment-page-1/#comment-35757 Erich Vieth Sat, 07 Feb 2009 05:50:01 +0000 http://dangerousintersection.org/?p=3899#comment-35757 In a widely attended brainstorming session at which participants were asked what single failure accounted for the crisis, there was a resounding answer: the belief that markets were self-correcting. The so-called "efficient markets" model, which holds that prices fully and efficiently reflect all available information, also came in for a trashing. Joseph Stiglitz, writing for The Guardian. http://www.guardian.co.uk/commentisfree/2009/feb/05/davos-imf-recession-economy In a widely attended brainstorming session at which participants were asked what single failure accounted for the crisis, there was a resounding answer: the belief that markets were self-correcting.

The so-called “efficient markets” model, which holds that prices fully and efficiently reflect all available information, also came in for a trashing.

Joseph Stiglitz, writing for The Guardian. http://www.guardian.co.uk/commentisfree/2009/feb/05/davos-imf-recession-economy

]]> By: Erich Vieth http://dangerousintersection.org/2008/12/20/how-did-the-free-market-fail-us/comment-page-1/#comment-32048 Erich Vieth Sat, 27 Dec 2008 20:05:58 +0000 http://dangerousintersection.org/?p=3899#comment-32048 It's time to drive the final nail into the coffin of laissez-faire capitalism by treating it like the discredited ideology it inarguably is. If not, the Dr. Frankensteins of the right will surely try to revive the monster and send it marauding through our economy once again. We've only just begun to bury the financially dead, and the free market fundamentalists are already looking to deflect the blame. Arianna Huffington, at http://www.huffingtonpost.com/arianna-huffington/laissez-faire-capitalism_b_152900.html It’s time to drive the final nail into the coffin of laissez-faire capitalism by treating it like the discredited ideology it inarguably is. If not, the Dr. Frankensteins of the right will surely try to revive the monster and send it marauding through our economy once again.

We’ve only just begun to bury the financially dead, and the free market fundamentalists are already looking to deflect the blame.

Arianna Huffington, at http://www.huffingtonpost.com/arianna-huffington/laissez-faire-capitalism_b_152900.html

]]> By: Larry J Carter http://dangerousintersection.org/2008/12/20/how-did-the-free-market-fail-us/comment-page-1/#comment-31891 Larry J Carter Mon, 22 Dec 2008 21:18:15 +0000 http://dangerousintersection.org/?p=3899#comment-31891 The dismal science has turned nightmarish, with its demons and fits; but one thing about good timing, you're always asleep. The dismal science has turned nightmarish, with its demons and fits; but one thing about good timing, you’re always asleep.

]]> By: Erich Vieth http://dangerousintersection.org/2008/12/20/how-did-the-free-market-fail-us/comment-page-1/#comment-31842 Erich Vieth Sun, 21 Dec 2008 05:57:09 +0000 http://dangerousintersection.org/?p=3899#comment-31842 Speaking of dogma over evidence, there is definitely a new President coming to Washington D.C.: The president-elect warned that promoting science is "about ensuring that facts and evidence are never twisted or obscured by politics or ideology," an apparent reference to the Bush administration's response to research on global warming. "It's about listening to what our scientists have to say, even when it's inconvenient -- especially when it's inconvenient." http://rawstory.com/news/2008/Obama_Science_key_to_our_survival_1220.html Speaking of dogma over evidence, there is definitely a new President coming to Washington D.C.:

The president-elect warned that promoting science is “about ensuring that facts and evidence are never twisted or obscured by politics or ideology,” an apparent reference to the Bush administration’s response to research on global warming.

“It’s about listening to what our scientists have to say, even when it’s inconvenient — especially when it’s inconvenient.”

http://rawstory.com/news/2008/Obama_Science_key_to_our_survival_1220.html

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