"Why Wall Street Always Blows It," by Henry Blodget. The Atlantic. December 2008.
First, bubbles are to free-market capitalism as hurricanes are to weather: regular, natural, and unavoidable. They have happened since the dawn of economic history, and they'll keep happening for as long as humans walk the Earth, no matter how we try to stop them. We can't legislate away the business cycle, just as we can't eliminate the self-interest that makes the whole capitalist system work. We would do ourselves a favor if we stopped pretending we can.
Hogwash. That statement above is antichrist garbage.
The whole article completely ignores the fact that there are ultra-rich people who are private bankers who have people on their payrolls whose job it is to study all history to glean every last bit they can so that those super-rich bankers can also pay people to design game strategies in series with tactics to use to make economic war. That's a fact. Anyone who doesn't believe it just doesn't have a clue about how evil and so-called clever the most selfish of the selfish can be.
Frankly, the author of the piece has worked overtime to re-ingratiate himself. He's excusing himself and deliberately ignoring what he actually learned. It's better kept secret so he may better kiss up to the hands that feed (the mammon worshipers and lovers).
This propaganda piece is the artful dodge of one who is doing his best not to be too introspective. He wants plausible deniability in his own mind. Don't let the right hand know what the left hand is doing. Just how conscious is he? Well, Jesus says he's the blind following the blind into the ditch. History bears that out, since this author is apparently prepared for society and humanity to remain fooled that there is no better system.
There is a better system though, and the Hutterites and others have been practicing it for centuries. It would be better known and understood only the likes of the ultra-rich paid murderous thugs to kill the unselfish pacifists bent upon showing the light of truth of that very way called sharing.
I hate these disingenuous articles all over the Internet. They just lead and lead and lead people right over that cliff the author went right over taking his clients with him, as if there is no other choice but to be stupid.