Richard Murphy says:
February 1 2018 at 5:39 pm
No one is saying that the apical markets will cease to exist. Politely, stop being silly
But if you really think capital markets are efficient and work for the benefit of society as a whole, politely, stop being silly. The evidence that they do not is overwhelming. The costs they impose are staggering. And the state has a duty to correct market imperfection. Making sure capital gets to where it is needed is a way of doing that.
Just wonderin’ ‘n’all.
Where has got rich with the state allocation of capital?