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SideShowMel0329 (32.23)

I like his recent Economist article on the financial crisis

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March 08, 2009 – Comments (2)

 http://www.economist.com/finance/displayStory.cfm?story_id=13251429

It highlights statements from IMF, who are currently pointing out that poor regulation played a big part in the financial collapse.

Austrianism, like Marxism, can function under ideal conditions but in a realistic world, human flaws like greed and corruption will always taint the system. Some form of regulation is always necessary in my opinion, especially when it comes down to industries which are entrenched in the well-being of every citizen (banking, insurance, food).

Even if you're a die-hard Austrian, reading the article will give you some perspective on what the other side is thinking.

2 Comments – Post Your Own

#1) On March 08, 2009 at 5:03 PM, SideShowMel0329 (32.23) wrote:

http://www.economist.com/finance/displayStory.cfm?story_id=13251429

Fixed the link

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#2) On March 08, 2009 at 8:11 PM, usmilitiadude (< 20) wrote:

The only regulation needed: Twenty percent down, cash, for a mortgage.

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