What If I Were Dr. Doom?
By Bryan Caplan
Nouriel Roubini says the market will fall another 20-25%, and advocates a bailout for U.S. automakers. In fact, while he recognizes a line-drawing problem, he seems to favor a bailout for any firm that involves “systemic” risk.
I wonder: If I had correctly predicted the stock market crash, if I were “Dr. Doom,” would people be listening to my policy advice to let the free market work out its own solution?