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  • Free-Market Absolutism: Some Parades Need Rain [View article]
    Free markets have never really existed, at least not in recorded history. That said, markets don't "fail"; they often punish people, including the unwise and greedy, and reward the wise and greedy (otherwise known as the enlightened self-insterested). Government intervention in the markets always distorts market signals and causes malinvestment by the majority and unwarranted profits for the politically well-connected.

    The notion that the Fed offficials in Rajan's piece were defending free markets is laughable. As representatives of a government banking cartel that does nothing BUT distort markets, they are the prime cause of the business cycles of the last 95 years.
    Jan 07 13:35 pm |Rating: +1 -1
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