22 Jun 2009

Murphy vs. (Hernando) de Soto

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In this month’s Ideas on Liberty, I take on Hernando de Soto’s WSJ op ed calling for stricter regulation of derivatives. An excerpt:

Regardless of what caused the crisis, government efforts to regulate derivatives will only lock in undesirable aspects of the current market and ensure that politically connected players reap artificial gains. It is absurd to ask politicians to promote financial integrity and sound accounting. They are the worst violators of these principles on the planet.

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