Oireachtas Joint and Select Committees
Thursday, 26 February 2015
Committee of Inquiry into the Banking Crisis
Context Phase
Professor Terrence McDonough:
The second part of the question is the relevant one. Clearly, there was a misunderstanding, and we need to ask why. It goes to the basic world view shared by economists, Irish policy makers and many political parties and other influential people, that the world is such that markets are efficient. The world is not that place.
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