Fama’s solution to avoiding another financial collapse and another Great Recession is there isn’t a problem. Markets should efficiently allocate resources... Shiller says markets can get out of line and then cause busts. This is due to the irrational behaviour of human beings, not to the drive for profits by private capital.
http://thenextrecession.wordpress.com/2013/10/14/the-noblest-fama-and-shiller/
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