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Bonuses & arms races

Bonuses & arms races

There's an important economic principle behind the debate about bankers' bonuses. It's that individual self-interest sometimes conflicts with the collective interest.

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RT @Frances_Coppola: New CC post: Krugman, Bowman and the monetary financing of governments http://t.co/qw7HA6RXwV a response to @s8mb @obo…