Faculty News

Prof. Paul Wachtel on the possible closure of the Export-Import Bank

Excerpt from Marketplace -- "The argument going back 80 years ago was that this kind of financing would not otherwise have been available. So this is an area of market failure, as economists say. That's a much less compelling argument in the 21st century. Financial markets are extraordinarily sophisticated and could probably step in, so it's harder to make a case that the government has got to step in."

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