Published Date:
07 January 2009
ECONOMICS, it seems, has very little to tell us about the economic crisis. Indeed, no less a figure than the former United States Federal Reserve chairman, Alan Greenspan, recently confessed that his entire "intellectual edifice" had been "demolished" by recent events.
Scratch around the rubble, however, and one can come up with useful fragments. One of them is called "asymmetric information". This means that some people know more about some things than other people. Not a very startling insight, perhaps. But apply...
The full article contains 598 words and appears in The Scotsman newspaper.
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Last Updated:
06 January 2009 9:05 PM
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Source:
The Scotsman
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Location:
Edinburgh
