Day By Day

Thursday, March 20, 2008

Megan McArdle on Market Myths

Excellent piece by Megan McCardle on the things that the economic pundits are getting wrong about our current crisis. She argues:

  1. The Iraq War did not cause this problem.
  2. The Bush tax cuts also did not cause this
  3. Being on the gold standard would not have prevented this
  4. Among the many other things that did not cause the current crisis was the repeal of Glass-Steagall
  5. The collapse of Bretton Woods was also not a cause of the current crisis
  6. The long twilight of American might is not yet upon us
Read it here.