# Nobel Laureate Prof. Thomas Sargent on the derivatives market

1 Faculty News May 4, 2012 ![Financial Times logo](/sites/default/files/styles/246w/public/assets/images/uat_025700.jpg?itok=LSPbU2V1)>

Excerpt from [Financial Times](http://www.ft.com/cms/s/0/b7aea9da-9565-11e1-ad38-00144feab49a.html#axzz1uCI7mTl1) -- "'It’s the paradox of a free market,' Mr. [Sargent](http://www.stern.nyu.edu/faculty/bio/thomas-sargent) said. 'Markets are great, they function very well, but nobody has the incentive to create the set of rules.'"

[Read more  ](http://www.ft.com/cms/s/0/b7aea9da-9565-11e1-ad38-00144feab49a.html#axzz1uCI7mTl1)