d9c3680446f86f380e87c828_ve798c.jpg Chris Van Es

The Perverse Politics of Financial Crisis

In trying to understand the pattern and timing of government interventions during a financial crisis, we should probably conclude that, to paraphrase the French philosopher Blaise Pascal, politics have incentives that economics cannot understand. Unfortunately, those incentives also often bring about crises in the first place.

CHICAGO – In trying to understand the pattern and timing of government interventions during a financial crisis, we should probably conclude that, to paraphrase the French philosopher Blaise Pascal, politics have incentives that economics cannot understand.

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