333 5 - natural and government should not get involved, in...

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5) I believe that the sub-prime mortgage crisis has shown what deregulation causes. The deregulation of drugs would also create an economic situation similar to what the US is being criticized for. Multinational corporations from the global north would exploit workers and end up controlling a disproportionately large amount of the drug cartels. If Friedman were alive, he would argue that this crisis is
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Unformatted text preview: natural and government should not get involved, in particular Bushs stimulus package, and that market forces will solve the problem. As a supporter of Adam Smith, he would say that the invisible hand would bring the country out of this crisis. Authors like Stiglitz and Scott would say that the industry should have clearly had a higher amount of government regulation....
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This note was uploaded on 05/19/2008 for the course ILRIC 4330 taught by Professor Turnerl during the Spring '06 term at Cornell University (Engineering School).

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