From an economist at SOAS:
One that shed considerable doubt on the ability of a radically decentralised system of economic co-ordination to assess risk and promote general welfare.
SOAS as a \”school\” really seems not to like markets very much.
But let\’s take the counter to this idea, say that there should be a centralised system of economic co-ordination to assess risk and promote general wrlfare.
Umm, like the Fed, ECB, BoE, OECD?
Those people who spotted, in advance, what was going wrong?
We’re not all champagne socialists, us SOASians! If you’re ever around Russell Square, come for a drink Tim – there’s plenty of people who’d like to hear your thoughts.
I don’t think she’s advocating more power to the central banks, Tim. Instead surely it’s a radically centralised system of economic co-ordination…
For a clue as to what sort of a system that might be, note that she’s a former economic advisor to Hugo Chavez.