Gene writes: > Max, I read the big push to define the Enron affair as > criminal as an effort to > suggest that there is nothing wrong with the functioning of > the market, just > some bad apples who everybody thought were good apples...
Max writes: > You could read it that way, but whether or not > the affair does point to an inherent problem with > markets is another matter. Choice and imperfect > law creation/enforcement make illegal acts possible; > that doesn't mean the underlying arrangement isn't > the best available. Perhaps it's impossible to write a perfect law (or to enforce it) when dealing with imperfect/asymmetric information (etc.) combined with rapacious profit-seeking? Jim Devine
