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Housing Discussion
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Re: Who's to blame for the housing mess?
Posted by: Kid Clu
Date: 03/20/2007 09:07PM
I voted that Free Market Fundamentalism is to blame. I have an Economics degree (Emory University)and I think that Roubini is correct in his analysis. It has long been my belief that Free Market theories are romanticized pabulum. The only way a Free Market would ever work properly is if every individual and every corporation obeyed the Golden Rule. As none of us are saints and this will never happen, regulation is needed for the marketplace to function fairly and effectively. Otherwise, greed and volatility reign supreme, with the ultimate result being that wealth becomes concentrated in the hands of a few.
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