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November 29, 2007



As for Robert Shiller's position, sorry but I don't think it is tenable. Private insurance is basically a scam. There are huge adverse selection problems and there is no guarantee that your claim will be honoured when you make it. Private insurance is there if you don't need it.


Putting anyone - especially a politician - in charge of something usually buggers it up completely. I always quote London - noone has ever said " so many pints of milk, so many sheep, so many apples etc etc " have to be delivered daily. But somehow, everyone gets fed.
Amazing what self-interest and the profit motive can do, all on its own, isn't it??


S&M- you should do a post on how Brown G,. used to rant on about stability and prudence, how the cycle of boom and bust had been broken and all such other drivel, clearly showing he had and has no more grasp of Economics than er Mr. Bean


Hmm, I wonder how London gets its water and sewage? Thousands of small, competitive, self-interested water companies?


Matthew Sinclair

Hmm... I'm going to simplify a little but isn't it pretty necessary to have some authority for financial stability thanks to deposit insurance and the like? Doesn't that mean that we need to have some body or someone in charge?


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