The New Republic by Joseph Stiglitz - But the view that our recent success is based on a house of cards has more than a grain of truth to it. In recent years, financial markets created a giant rich man’s casino, in which well-off players could take trillion dollar bets against each other. I am among those who believe that consenting adults should be allowed great freedom in what they do–as long as they don’t harm others. But there’s the rub. These high-rollers weren’t just gambling their own money. They were gambling other people’s money. They were putting at risk the entire financial system–indeed, our entire economic system. And now we are all paying the price.

Objavljeno pod gospodarstvo |