>>The concept of "free market corruption" as a economic concept is an intriguing thought, I must say<<
Stephen - you make a good point re: the debt service. As to corruption, I'm afraid it is as old as business itself, free market or otherwise. Just look at banking, an ancient business, which is rife with corruption and "sweetheart" deals the world over. Always has been a dirty business. We even have our fair share right here in the good old USA, and you probably don't have to look any farther than your local branch to find it. Certainly the recent LTCM rescue raises many questions as to who benefited, and what connections did they have in order to get that benefit, and would they have cratered if a lot of powerful, and self-interested, people hadn't gotten involved. There is too much money floating around in all these deals, and bankers like to slip a bit in their pocket on the side every now and then, if you know what I mean.
Perky |
