Deborah Poppler, along with co-author Frank Popper, wrote “Turning Economics Inside-Out” for the The Hill’s Congress Blog.
Another day, more news of financial malfeasance. SAC Capital Advisers gets accused of insider trading, MF Global of bad C-suite oversight, the London Whale of youthful overreach. Why do such shortfalls inexplicably keep swirling up out of the market?
Here’s why: economists and their followers need to pay far more attention to the market’s imperfections, far less to its perfection. If they reverse their analytic angle, they’d get a better grip on market deficiencies and how to fix them.
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