Dec 2, 2008

The world's first credit crunch happened in 88BC

and, once again, we find out that nothing is new under the sun. my question is: how many thousands of years will it take us before we make financial markets reliable? or are they inherently unstable? capital controls, anyone?
Posted by at

1 comment:

Pierre-Louis said...

I guess financial markets will become stable when Russia becomes democratic...(when pigs fly)...but seriously, its like everything else, it works well if social capital is high or if regulatory institutions or absolutely perfect...which happens with time and experience even though absolute perfection might never be reached...

December 2, 2008 at 5:49 PM

Post a Comment

Subscribe to: Post Comments (Atom)