Russ Roberts — Government Pathology Powered The Housing Finance Trainwreck

Non-pathological markets require non-pathological institutions — and America has neither as Russ Roberts explains.

Note well:  Hayekian analysts were pointing to many of these pathologies and others before the crisis hit.   Non-pathological markets also require a non-pathological class of regulatory, political, and scientific elites.  Institutions won’t change until the intellectual and moral pathology of . . . → Read More: Russ Roberts — Government Pathology Powered The Housing Finance Trainwreck

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The method of relying upon competition [to order our affairs], if it is to be made effective, requires a good deal of government activity directed toward making it effective and toward supplementing it where it cannot be made effective. — F. A. Hayek

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