L'Etat, c'est la grande fiction à travers laquelle tout le monde s'efforce de vivre aux dépens de tout le monde. Frédéric Bastiat

samedi 17 octobre 2009

Bhagwati et la crise

Jagdish Bhagwati challenges Joseph Stiglitz’s analogy that the current worldwide recession is analogous to the fall of the Berlin Wall. For Stiglitz, the decline is due to neo-liberal policies gone awry. Bhagwati, on the other hand, sees things differently. First, he reads the recent evidence of economic liberalism as poverty reducing and welfare enhancing. (...)
Second, he also doubts claims that markets undermine morality. (...) And finally, rent-seeking caused the crisis.

link: Stationary Bandit: Bhagwati on the Crisis