August 22, 2007

ARNOLD KLING ON THE CURRENT ECONOMIC SITUATION: “Sebastian Mallaby calls this ‘irrationality’ on the part of investors. Instead, I think of it as a breakdown in trust of the financial intermediation process. This breakdown is occurring not so much at the level of the average consumer, but among large institutional investors.”

Comments are closed.
InstaPundit is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com.