We pretend there are clean examples, but everything is pretty messy, and we rarely get any pure test cases for any economic philosophy.
Macro is black arts. "Avoid price controls" and "don't print boatloads of money" seem like reasonable guidelines. Beyond that, who knows? Corruption's bad but hard to stop. Moving risk around is (sometimes)* bad but hard to stop. Shrug and try not to do anything too extreme.
http://www.cityam.com/article/1394655511/forget-nordic-socia...
We pretend there are clean examples, but everything is pretty messy, and we rarely get any pure test cases for any economic philosophy.
Macro is black arts. "Avoid price controls" and "don't print boatloads of money" seem like reasonable guidelines. Beyond that, who knows? Corruption's bad but hard to stop. Moving risk around is (sometimes)* bad but hard to stop. Shrug and try not to do anything too extreme.
* Insurance is a beneficial example.