ROOT CAUSES....Ryan Avent, plugging a blog that will remain nameless because it inexplicably continues to host anonymous posts, a practice I despise, says:
This week, the blog is hosting a discussion among economists on IMF economist Olivier Blanchard's suggestion that pervasive uncertainty is at the root of the crisis....
Sounds like a fine discussion. But just as an aside, why do people so frequently insist on trying to root out the cause of the crisis? Can't it be a liquidity crisis and a solvency crisis and a confidence crisis and a regulatory crisis all at once? Who says there has to be one true cause?