Firewalls serve to restrain complex and tightly coupled systems; small recessions are preferable to systemic failures. The political wish to avoid recessions by neutering small corrections only paves the way for greater failures.
Read MoreFirewalls serve to restrain complex and tightly coupled systems; small recessions are preferable to systemic failures. The political wish to avoid recessions by neutering small corrections only paves the way for greater failures.
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