The EU question (Response to Louis - II)
juliohuato at hotmail.com
Fri May 4 16:42:06 MDT 2001
Xxxx Xxxxxx writes:
>What you are saying above is typical a "rational agency model". You are
>assuming that private actors always know what is in their best interests,
>so they calculate probabilistic measures of risk based on their own
>estimates. This model does not work in reality because the reality is much
>more complex. If it did, we would not have financial crises. Capitalists
>do not always act rationally just as markets do not always promise
>predictability and certainty. Most of the time, they fail.
Forget what model you believe I'm talking about. If the profit expectations
of capitalists failed systematically, as you say, then they would all be
broke. Does that make sense to you?
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