Thursday, 9 October 2008
Russell Roberts talks about the financial mess
George Mason University economist and author Russell Roberts, who blogs at Cafe Hayek, talks with Reason.tv about the problems with the US economy and the US government's bailout plan. Watch this six-minute interview to learn where the problems came from, why the bailout won't address them, and what sort of hurt we're in for over the next several weeks, months, and years. "The real cost of this," warns Roberts, "is that we have said to people, 'Risk taking is not as risky as it used to be.' That's a mistake. It's a horrible mistake and it will lead to a lower standard of living down the road because investment will be more cavalier and less prudent."