Salsman: "Altruism: The Moral Root of the Financial Crisis"

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Salsman: "Altruism: The Moral Root of the Financial Crisis"

Innlegg Per Arne Karlsen 09 Mar 2009, 20:42

Ny artikkel i TOS av Salsman:

Altruism: The Moral Root of the Financial Crisis by Richard M. Salsman
http://www.theobjectivestandard.com/issues/2009-spring/altruism-financial-crisis.asp

Government intervention is once again wreaking havoc on the U.S. financial system and the economic security of millions of Americans—a tragic replay of previous crises. In 2008–2009, for the second time this decade (the first being 2000–2002), the value of U.S. publicly-traded stocks has plunged by 50 percent—but this time with an additional plunge in the median home price, which has dropped 23 percent from its peak in 2007. Thus American households have suffered declines of $8 trillion and $4 trillion, respectively, in the value of their two key assets—stocks and homes—and a 20 percent drop in their net worth, from its recent peak. Meanwhile Washington policymakers have mired Americans in yet another recession, with declining output, stagnant income, and a rising jobless rate. The current recession is not yet as severe as many prior ones, but it will worsen if interventions intensify.
Per Arne Karlsen
 
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