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03/30/2011

The Possible Misdiagnosis of a Crisis


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CFA InstituteThe illness underlying the 2007–08 financial crisis might have been misdiagnosed, as is strongly suggested by some elementary principles of finance and development economics. Moreover, there is an explanation for the crisis that is fully consistent with rational beliefs and well-functioning markets. If this explanation is true, public policy prescriptions should be reexamined because there is a danger that the attempted cure is worse than the disease.

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Great financial analysis. Thanks for sharing this :)

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