The Generally Accepted Theory Is That Financial

If The Choice Is Between Cooking Alive And Wasting Money Unnecessarily I Would Rather Waste Some Money, Because Long Before We Cook We Are Going To Kill Each Other If We Don't Deal With Climate Change.

Whenever There Is A Conflict Between Universal Principles And Self-interest, Self-interest Is Likely To Prevail.

Financial Markets Are Supposed To Swing Like A Pendulum: They May Fluctuate Wildly In Response To Exogenous Shocks, But Eventually They Are Supposed To Come To Rest At An Equilibrium Point And That Point Is Supposed To Be The Same Irrespective Of The Interim Fluctuations. Instead, As I Told Congress, Financial Markets Behaved More Like A Wrecking Ball, Swinging From Country To Country And Knocking Over The Weaker Ones. It Is Difficult To Escape The Conclusion That The International Financial System Itself Constituted The Main Ingredient In The Meltdown Process.

The Criminalization Of Marijuana Did Not Prevent Marijuana From Becoming The Most Widely Used Illegal Substance In The United States And Many Other Countries. But It Did Result In Extensive Costs And Negative Consequences.

Markets Are Imperfect. So You Do Need Regulation, Knowing That The Regulators Are Also Human.