The Market Has Spoken, and It Is Rigged
In the aftermath of the Barclays rate-fixing scandal, the most surprising reaction has been from people in the financial sector who fully understand the awfulness of what has happened. Rather than seeing this as an issue of law and order, some well-informed people have been drawn toward arguments that excuse or justify the behavior of the Barclays employees.
This is a big mistake, in terms of the economics at stake and the likely political impact.
Read more at The New York Times.
About the Author
Simon Johnson
Professor of Entrepreneurship, MIT Sloan School of Management
Simon Johnson is the Ronald A. Kurtz (1954) Professor of Entrepreneurship at the MIT Sloan School of Management and a Professor of Global Economics and Management at the MIT Sloan School of Management. He is also a senior fellow at the Peterson Institute for International Economics in Washington, D.C., a co-founder of BaselineScenario.com (a much ...
Related Experts
Robert Johnson
Executive Director, Institute for New Economic Thinking, 2009-Present
Senior Fellow, Project on Global Finance, The Roosevelt Institute, 2009-Present
Robert Reich
Chancellor’s Professor of Public Policy, University of California at Berkeley
Richard B. Freeman
Professor of Economics, Harvard University
