David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Jack Alan Reynolds
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Critical Review 8 (4):615-621 (1994)
In his Reply, Kindleberger falsely ascribes to me the views that political actors are utterly incompetent, while market actors are completely rational; and that political processes are pure chaos, while market processes are perfectly efficient. My point was that the relatively better performance of the market is a result of systemic factors, not the rationality of individuals. Kindleberger fails to address the historical evidence indicating the comparatively poor performance of government intervention in the monetary order. ?Market manias? are, in fact, largely the product of ill?conceived government regulations.
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References found in this work BETA
Catherine England (1993). The Savings and Loan Debacle. Critical Review 7 (2-3):307-319.
Lawrence H. White (1993). What has Been Breaking U.S. Banks? Critical Review 7 (2-3):321-334.
Glenn Yago (1993). Ownership Change, Capital Access, and Economic Growth. Critical Review 7 (2-3):205-224.
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