|Alan Greenspan: Regulators must risk more, and intervene less|
| Since the devastating Japanese earthquake and, earlier, the global financial tsunami, governments have been pressed to guarantee their populations against virtually all the risks exposed by those extremely low probability events. |
But should they? Guarantees require the building up of a buffer of idle resources that are not otherwise engaged in the production of goods and services. They are employed only if, and when, the crisis emerges.
Tuesday, July 26, 2011
Posted by Michele Kearney at 11:27 AM