In this clever and insightful post, Warren Meyer provides a handy Rorschach Test for how Americans view capitalism and markets by using the competing views toward the adjustment that has been taking place in subprime mortgage markets over the past several months.
Guess how Loren Steffy and Ben Stein test out? If you need a hint on Stein, see this Larry Ribstein post.
Houston's Clear Thinkers
Longtime Houston attorney Tom Kirkendall's observations on developments in law, business, medicine, culture, sports, and other matters of general interest to the Houston business, professional, and academic communities.
Tom K.,
Thanks for pointing out the useful post. It strikes me that one could build a similar test using Enron as the example. Is Enron a tale of the risks of business innovation or is it a tale of a massive conspiracy run by greedy executives? I noticed in today’s column by Loren Steffy that he clings steadfastly to the conspiracy theory description of Enron and seems to believe that the “solution” is more government oversight.