Wednesday, July 13, 2011

If we deregulate businesses/energy industry, and privatize roadways, how long will it take economy to recover?

Adam Smith had a naive view of greed and human nature. While deregulation will cause accelerated growth, it will also lead to gross inequities and an eventual collapse of the economy. That is what nearly happened in the financial markets after 30 years of deregulation. Some Keynesian principles are needed for a successful economy in the long run. Few economists disagree on this reality anymore.

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