ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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With Powerful Backers in High Places

Blame the political establishment for the great financial crisis and advance the ideology of laissez-faire!

EDITORIALS

With Powerful Backers in High Places

Blame the political establishment for the great financial crisis and advance the ideology of laissez-faire!

D
espite the great financial crisis, the myths of the efficiency of financial markets still command a considerable constituency in the economics profession in the United States (US) and its counterpart over here in India. Indeed, a leading section of the Indian counterpart, in consultation with those who matter in the financial sector, is drawing its own lessons for the Indian economy based on what the ideologues of the Right in the US have drawn from their analysis of what caused the crisis and of what therefore needs to be done to prevent the next one.

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