"Human beings are as good at devising ex post facto explanations for big disasters as they are bad at anticipating those disasters. It is indeed impressive how rapidly the economists who failed to predict this crisis — or predicted the wrong crisis (a dollar crash) — have been able to produce such a satisfying story about its origins. Yes, it was all the fault of deregulation."
Niall Ferguson writing in the New York Times
Saturday, May 23, 2009
A Good Explanation
Posted by Ben Asa Rast at 9:42 AM
Labels: Social Theory
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