Sandy Ikeda Professor of economics at SUNY writes on the three mistakes.
- Mistake #1: “The free market doesn’t need regulation.”
- Mistake #2: “Markets will regulate themselves.”
- Mistake #3: “Buyers and sellers compete with each other.”
These are really old philosophical issues around economics. Well, we need regulation but most of the time regulation too gets it wrong. There aren’t any easy answers to all this..