Monday, November 12, 2007

The Free Market: The best of all possible systems, until something goes wrong

It seems we're never more than three years or so until some country (or group of countries) needs to institute capital controls to keep the international markets from fucking them up.

It's funny to see that Bloomberg piece explicitly compare the death of what some have called "Bretton Woods II" to the death of the original Bretton Woods. Funny if you're a big nerd like me, that is.

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