George Akerlof - Efficient Markets Hypothesis and Causes of Crisis
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Mainly he's talking about protecting the unintelligent/unconcerned/unlucky people from the more intelligent/lucky ones in a way of solidarity. Every good economist strove to define an optimal way of distribution for society with regards to specific philosophical measures.
Funny thing is that none of such agreed on systems stays forever and the only "objective" way to do it are crisis.
ThaFacka 1 month ago
great plug in for his book promotion!!
Kaatni 1 year ago