Liquidity - The Great Unwinding

[shofarot]

Cancer - a malignant tumor of potentially unlimited spreading growth affecting different parts of an otherwise healthy organism. This was the story of the beginning of the end for unfettered free-market capitalism à la Milton Freedman.

Nearly four years ago I remember having spirited conversations with a good friend of mine from my MBA program. He

Comments

[cool_moose]

Well reasoned arguements ... if we continue to devour 50 cigarettes per day, cancer will indeed strike (koff-koff). The major problem in all of this is simply that unregulated free markets, fed by greed as the only criterion for companies and individuals, is predictably headed for collapse. There's nothing wrong with a 'free-market' - look at the growth it has stimulated - but, like everything else, it needs regulation for the public good.

Purist 'Friedmanists' always dismissed Keynes and Galbraith as control-oriented semi-socialists. Well, now we know. And suddenly Stiglitz, Krugman and Thurow are being listened to again.

We are basking in the Caribbean sunshine ... but return home tomorrow (Sunday). You'd be at home here in Cancun with most of the Club Med vacationers here coming from France.