Richard Epstein see sharp decline for the American economy

The most respected authority on economic regulation in America sees a nation headed for increasingly steep decline.  Listen here.

On the list of  the most intelligent people in America, Richard Epstein ranks right at the top.  This is sobering stuff.

finance: Roman Frydman & Michael Goldberg on Hayek, Mathematics, Wall Street & Financial Regulations

Economists Roman Frydman and Michael Goldberg presented a paper exploring the significance of the limits of knowledge and mathematical modeling for financial regulations titled “Emerging from the Financial Crisis” (pdf) at Columbia University Friday, Feb. 20, 2009.  From their paper:

In his prescient critique that central planning must fail in principle, Friedrich Hayek emphasized that . . . → Read More: finance: Roman Frydman & Michael Goldberg on Hayek, Mathematics, Wall Street & Financial Regulations

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Our free choice in a competitive society rests on the fact that, if one person refuses to satisfy our wishes, we can turn to another. — F. A. Hayek

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