Wired Magazine interviewed George Akerlof, a UC Berkeley economics professor, in the Dec 2002 issue. They asked him why we didn't see the market meltdown coming. Below is part of his answer:<\/p>\n
the public and the government went wild with the idea that we should have very free markets. But free markets mean you have more <\/strong>regulation and more monitoring. If you keep your toddler in a playpen, you don't need to monitor them. When you let the toddler out<\/strong> of the playpen, you need to watch them much more. …<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"
Wired Magazine interviewed George Akerlof, a UC Berkeley economics professor, in the Dec 2002 issue. They asked him why we didn't see the market meltdown coming. Below is part of his answer: the public and the government went wild with the idea that we should Read More …<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-102","post","type-post","status-publish","format-standard","hentry","category-misc"],"_links":{"self":[{"href":"https:\/\/www.netjeff.com\/wp\/index.php?rest_route=\/wp\/v2\/posts\/102","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.netjeff.com\/wp\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.netjeff.com\/wp\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.netjeff.com\/wp\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.netjeff.com\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=102"}],"version-history":[{"count":0,"href":"https:\/\/www.netjeff.com\/wp\/index.php?rest_route=\/wp\/v2\/posts\/102\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.netjeff.com\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=102"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.netjeff.com\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=102"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.netjeff.com\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=102"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}