Wednesday, October 7, 2009

Crash-Prone Capitalism

In finance, actions can be both individually prudent and collectively disastrous.John Cassidy, staff writer for the New Yorker, argues discredited policies from the man who brought you "irrational exuberance" prompt a financial group think in which it's more risky for executives at investment banks to sit out a speculative bubble than to dive in.






Audio: BBC, PRI & WBUR's Here & Now. Host: Robin Young.
Read Cassidy's article on "Rational Irrationality" at the New Yorker

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