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Ryan Avent in the Economist:
…it stands to reason that the financial sector is acting, quite purposefully, to use its vast wealth to influence government policy in ways that will make it rich.
But wouldn’t that go against their blood promise to ensure the efficient allocation of capital?!?!?!
Anyway, to refresh your memory, Avent is the same guy who says unemployment would be lower if Larry Summers had been Fed chairman, so take this new statement with a grain of salt…