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Investment Analysis Clubs / Macro Economic Trends and Risks
|Subject: Re: “This Time it is Different”||Date: 10/5/2012 6:32 AM|
|Author: MadCapitalist||Number: 405329 of 465036|
And those regulations were?
MC approaches any given economic problem with the fixed assumption that whatever government does, it must be making things worse.
No, just logic and real-world evidence leads me to that conclusion. Consider the vast evidence of the negative impact of the minimum wage on those who are least able to afford it (such as minorities). The theory is logical and backed up by empirical results, and yet we just go with the noble intentions of politicians.
The government merely shaped how exactly the banks blew themselves up, it didn't cause them to do it.
This is ridiculously weak. You and your fellow regulation-happy friends absolutely refuse to acknowledge that regulation might have actually *contributed* to the problem rather than helped it.
I still haven't heard a compelling argument about why Kling was wrong:
Not What They Had in Mind: A History of Policies that Produced the Financial Crisis of 2008
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