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“Greece Formally Requests EU/IMF Aid”
“Prime Minister George Papandreou said Friday that ‘the time has come’ for Greece to request aid under a joint European-International Monetary Fund bailout mechanism following months of turmoil in Greek financial markets. ‘The time has come,’ Papandreou said in televised comments from the island of Kastellorizo. ‘It is a necessity. It is a national and […]
April 23, 2010
Deflating China’s Bubble
Reining in China’s investment boom will be hard. The Chinese authorities are damned if they do and damned if they don’t.
In a Culture of Excess, the Fat Cats will Rule
“Free market economists are not necessarily defenders of business. Crony capitalism has a long history. Mercantilism was a form of crony capitalism, and was the main target of Adam Smith’s critical abilities. And while modern Smithians understand how important a vibrant financial market is to the advancement of generalized prosperity, the crony capitalism of Wall […]
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