The financial crisis of 2008 illustrated... how markets often go haywire, yet textbooks remain unchanged, failing to convey the fundamental flaws and… - John Komlos

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The financial crisis of 2008 illustrated... how markets often go haywire, yet textbooks remain unchanged, failing to convey the fundamental flaws and systematic weaknesses of the free-market system.

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About John Komlos

(born 28 December 1944) is an American economic historian of Hungarian descent and former holder of the chair of economic history at the University of Munich.

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Additional quotes by John Komlos

[I]n the United States... southerners were 1.5 cm taller than men of the more industrialized North, even though the per capita income was greater in the North. ...Although England had a higher per capita income... as much as 25%, its soldiers were shorter than those of the United States in the eighteenth century. A century later, Irish recruits into the Union Army were taller than soldiers born in England, although English per capital income was... higher...

[I]n 2016. ...Trump ...said ...this is a good economy ...tremendous, we've never had it so good... but... people do not kill themselves [or kill strangers] to the extent of 150,000 people per annum in a good economy. You've got to generate a lot of despair in order to do that...

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