There is a basic principle in environmental economics called „the polluter pays“: polluters must pay for the cost of cleaning up their pollution. American banks have polluted the global economy with toxic waste; it is a matter of equity and efficiency that they must be forced, now or later, to pay the price of cleaning it up. As long as the banking sector feels that it will be bailed out of disasters–even ones it created–we will continue to have a moral hazard. Only by making sure that the sector pays the costs of its actions will efficiency be restored.
(Joseph E. Stiglitz – A Bank Bailout That Works in The Nation)
Archive for 10. März 2009
mor(t)al hazard
März 10, 2009close your eyes & you’ll see
März 10, 2009The weird things he predicted are real and they can, indeed, only be seen by people who are not looking.
That’s not totally absurd but I don’t get the relation between Hardy’s paradox and the new findings. His thought experiment states that the encounter of matter and antimatter does not have to result in the annihilation of the two but can result in an interaction where they both survive. But this can only work if there is no observer. The new experiments show that there can be a negative number of polarized photons in some places. How can this be explained with the thought experiment if antiphotons do not exist?
Ohrenschmaus 