Tuesday, June 12, 2012

Joseph Stiglitz: The Price of Inequality | Books | AlterNet

Joseph Stiglitz: The Price of Inequality | Books | AlterNet
"Markets have clearly not been working in the way that their boosters claim. Markets are supposed to be stable, but the global financial crisis showed that they could be very unstable, with devastating consequences. The bankers had taken bets that, without government assistance, would have brought them and the entire economy down. But a closer look at the system showed that this was not an accident; the bankers had incentives to behave this way."