April 2nd, 2011
|08:57 am - Atlas trumped|
Alan Greenspan is a highly influential right-wing economist and follower of Ayn Rand ('Sharing is evil'). Many people have argued that as the most powerful champion of free market deregulation he bears significant responsibility for the current crisis in Capitalism.
This Crooked Timber thread has a lot of fun with a statement he made in a recent article in the Financial Times.
Today’s competitive markets, whether we seek to recognise it or not, are driven by an international version of Adam Smith’s “invisible hand” that is unredeemably opaque. With notably rare exceptions (2008, for example), the global “invisible hand” has created relatively stable exchange rates, interest rates, prices, and wage rates. With notably rare exceptions, the free market is working just fine!
There are currently 350 comments in that thread, such as:
With notably rare exceptions, Germany remained at peace with its neighbors during the 20th century
With notably rare exceptions, drunk drivers arrive home safely.
With notably rare exceptions, locking all exits to the workplace is a harmless way to improve your employees’ productivity.
With notably rare exceptions, petroleum extraction has minimal environmental impact.
With notably rare exceptions the maiden voyage of the Titanic was uneventful.
With notably rare exceptions, it's a great idea to start a land war in Asia
You've gotta laugh. With notably rare exceptions.
|Date:||April 2nd, 2011 08:59 am (UTC)|| |
I am also wondering what an invisible and yet opaque hand would look like
Just picture a palpably insubstantial one, and reverse it.
My favourite: "With notably rare exceptions, Mrs. Lincoln enjoyed the play."
With notably rare exceptions Dallas is a great location for a presidential visit
|Date:||April 2nd, 2011 10:07 am (UTC)|| |
Yeah, his notably rare exception of 2008 bankrupted my entire fecking country!
You're right, you've gotta laugh. Or cry.
Yes, I can't think what will happen next for Ireland
I did know it, but I am not entirely sure what the job means. Is it like being Governor of the Bank of England (set interest rates and so on)?
As the guy who jumped off a 34-story building said when he passed the sixth floor, "Everything looks fine so far!"
It's not the acceleration, it's the deceleration that gets ya
This one tickled me: 'With notably rare exceptions, Caesar and Brutus were BFFs.'