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Pastimes : Ask Mohan about the Market

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To: John Hunt who wrote (16803)10/21/1998 6:59:00 AM
From: John Hunt  Read Replies (1) of 18056
 
Interference with Free Markets Causes Global Crisis

aei.org

<< Some of the great ironies and tragedies of a global financial crisis, such as the current one, are the misperceptions created by governments attempting to avoid responsibility. Along with currency devaluation, the free market and the unfettered flow of capital across national borders are being vilified as the causes of this disaster. Such blame is absurd and dangerous for two reasons. First, it leads to government actions that worsen the crisis. Second, it leaves in place false impressions that make more likely the reemergence of another tragedy like the one unfolding today in Asia, Russia, and perhaps Latin America. >>
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