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The essence of what went wrong with the housing market can be seen in Alan Greenspan's recent concessions that a lifetime of economic thinking was flawed. So what was this fundamental flaw? In thinking that deregulation would result in corporations doing what is best for their constituents according to the famous 'invisible hand theory. Unfortunately, this thinking has proven flawed across multiple economic spectrums. It has resulted in the growth of free trade, which until the last 40 years had been long absent from America's regular economic policy, resulting in outsourcing as American j...
More..Joshua Zambrano
Montgomery, Illinois US
Member since: August 2007
Articles Written: 92