Mises Wire
Author:
D.W. MacKenzie
Online Publish Date:
Aside from the error identified by Shostak this morning , another error concerning financial markets is that they are systematically irrational - the very opposite error of the EMH. Michael Kinsley , for example, condemns the stock market as a swindle. Kinsley admits that markets do well with commodities, but insists that markets fail elsewhere.