Selva Brasilis

Um país que evoluiu da oca e senzala ao abismo, barbárie e caos, sem ter experimentado a civilização

Monday, November 1, 2010

Conflito de Interesses ou o Economista Enquanto Rent Seeker

Um artigo muito bom sobre Larry Summers. Como ele ajudou a criar a crise financeira e ao mesmo tempo lucra com ela: "after the 2008 financial crisis and its consequent recession, Summers was placed in charge of coordinating U.S. economic policy, deftly marginalizing others who challenged him. Under the stewardship of Summers, Geithner, and Bernanke, the Obama administration adopted policies as favorable toward the financial sector as those of the Clinton and Bush administrations—quite a feat. Never once has Summers publicly apologized or admitted any responsibility for causing the crisis. And now Harvard is welcoming him back.
Summers is unique but not alone. By now we are all familiar with the role of lobbying and campaign contributions, and with the revolving door between industry and government. What few Americans realize is that the revolving door is now a three-way intersection. Summers's career is the result of an extraordinary and underappreciated scandal in American society: the convergence of academic economics, Wall Street, and political power
".
SELVA BRASILIS at 7:10 PM
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