To Others, Being Wrong Is

These Public-private Partnerships Are Very, Very Dangerous. The Most Rotten Part Of The Financial System In The Us Consisted Of The Government Sponsored Entities, Fannie Mae And Freddie Mac. They Really Kicked Off This Crisis. The State Should Set The Rules And Enforce Them - But Not Become Involved As A Market Player.

The Generally Accepted View Is That Markets Are Always Right -- That Is, Market Prices Tend To Discount Future Developments Accurately Even When It Is Unclear What Those Developments Are. I Start With The Opposite View. I Believe The Market Prices Are Always Wrong In The Sense That They Present A Biased View Of The Future.

The World Order Needs A Major Overhaul.

The Generally Accepted Theory Is That Financial Markets Tend Towards Equilibrium, And...discount The Future Correctly. I Operate Using A Different Theory, According To Which Financial Markets Cannot Possibly Discount The Future Correctly Because The Do Not Merely Discount The Future; They Help To Shape It.

The Bureaucratic Method Of Building An Integrated Europe Has Exhausted Its Potential.