Thursday, May 14, 2009

Wolf on Obama's Conservatism

I post this link to Martin Wolf's column on Obama's conservatism. Although this concerns American politics, not French, I think that the implications extend to Europe, and Wolf's conclusion is absolutely essential for policymakers everywhere to understand:

The more the crisis unfolds, the more evident it is that incentives in the financial system were (and are) badly distorted. I sympathise with the conservative approach to crises, but not if it leaves in place the plethora of perverse incentives that created them.

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