On Wednesday, March 11, 2009 at 11:13:15 (-0700) raghu writes:
>[...]
>I suspect Hayekians do not have a good answer to that. ('Liquidate!
>Liquidate!' is not a good answer.)
>
>A more reasonable answer is that it is the government's role to step in when
>markets make a disastrous mistake.
>
>But who can step in if the central planner screws up?? Seems to me there is
>a fatal flaw here.That's what arms (branches) are for. You can always have monitoring groups that trigger takeover by a different agency whose job it is to fill in the temporary holes then remove itself (or be removed). Nothing too difficult in principle. Bill _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
