Nassim Taleb and Nouriel Roubini (formerly economists, now financial sociologists, apparently) have set a Facebook group in order to call for a socialization of finance. Their motto on how bonuses are the crux of “a situation in which profits were privatized and losses were socialized” looks like it is coming straight from Olivier Godechot’s book. Excellent news for anybody interested in a steady transition from economics to sociology in the appraisal of finance.
But, just in case: before registering to the Facebook group, remember Mao’s “Let a hundred flowers blossom”. They’re economists after all, so you never know.
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Authors
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typewritten
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foamsociety
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nikip
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mudarchitect
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dementine
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metatester
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wholeseller
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February 4, 2009 at 2:47 pm
Hmm, didn ‘t Stark already provide a pretty good account of how profits were privatised and risks nationalised in post-Soviet Hungary?