Thursday, April 23, 2009

But the Free Market Depends on Enlightened Self Interest

"it’s almost impossible to overstate the power of the laziness of the bond investor."

That's a quote via Kevin Drum from Felix Salmon discussing economics and risk. Enlightened self-interest implies something other than being a couch potato. That's one problem with the free market economists--they're idealists who see humans as better than we are.

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