I don’t know why I didn’t see it before, but back at the end of September 2008 Steven Horowitz, professor of economics at St. Lawrence University, wrote an open letter to his “friends on the Left” which discusses the role of regulation vs. the free market and greed at the root of the housing market. His conclusions in a nutshell: Greed is part of human nature, we’ll never be rid of it. The housing market was not free because it was constrained by political considerations. Regulations are written by and for the entities they are supposed to regulate and are tilted towards those entities, not the public good. It’s long, well thought out and well worth reading.
Archive for November, 2008
Greed & Regulation vs. Free Market in the Housing Crisis
Posted by leowalker on 10
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In a Nutshell
Posted by leowalker on 9
Or maybe that was delusions. . .
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