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Unformatted text preview: Bryan Baum Introduction to Economics Kuttner Book Review Kuttner’s main viewpoint is to let the markets run uninterrupted and then to step in and fix the problems. He shows how the government should get involved in sectors such as the labor market, environmental issues, healthcare, and businesses. He also firmly believes in the redistribution of both economic and political power from the wealthy to the poor. He argues that the usual model for the market is under perfect competition, which is impossible and imperfect competition can actually benefit the economy. In the money market Kuttner believes that regulation is necessary to have a successful economy and that the new waves of regulation will stimulate competition. He feels that financial markets: “are too important to be permitted to operate according to absolute laissez-faire”(161). He states that we can not get rid of regulation all together because there would be too much risk. He notes that banking, “is a realm of the economy because there would be too much risk....
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This essay was uploaded on 04/07/2008 for the course ECON 101 taught by Professor Golub during the Spring '08 term at Swarthmore.
- Spring '08