Tag Archives: Tyler Cowen

Cowen Condemns the Corporations he Comes to Praise

Posted on October 21, 2013 by Devin Smith | 1 comment

Tyler Cowen often seeks to defend corporations from what he views as unjust criticism. He does not, however, evidence any understanding of the relevant criminology or economics literature on “control fraud” so his defenses sometimes actually represent indictments of the risks posed by corporations. A good example is blog about libertarianism and the workplace.

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Posted in William K. Black

Tagged Control Fraud, Tyler Cowen

Bank Failures are “Inconceivable” under the Latest Neoclassical Fantasy

Posted on October 6, 2013 by Devin Smith | 8 comments

By William K. Black
(Cross posted at Benzinga.com)

Only theoclassical economics constantly recycles variants of its worst ideas that have proven disastrous when they have influenced policy. Other fields advance because they embrace the scientific method. Theoclassical economists repeat their worst errors because they embrace anti-governmental dogmas that blind them to the inherent weaknesses of the corporate form and limited liability. This represents a dramatic regression in understanding from over 200 years ago when classical scholars like Adam Smith were warning that corporations were inherently criminogenic and likely to produce what we now label “control frauds.”

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