Rob Killick is the CEO of the digital agency cScape, and writes for a range of publications regularly on economics, the internet and privacy. You can see his blog, UK After The Recession, here: postrecession.wordpress.com.

Keynes, the straw man and this irrational, crazy world

If you have any doubt about the irrelevance of the EMH in the real world then just look at how the world’s leaders responded to the financial crisis. Governments everywhere stepped in with massive subsidies to keep the financial system afloat. Would leaders who were supposedly ideologically wedded to the principles of the free market have acted in such a concerted way to bail out the markets?