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Everybody Calm Down. A Government Hand In the Economy Is as Old as the Republic.

It has become fashionable to fret that the current crisis on Wall Street marks the end of American capitalism as we know it. "This massive bailout is not the solution," Sen. Jim Bunning (R-Ky.) warned Tuesday. "It is financial socialism, and it is un-American." It is neither. The near-collapse of...
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By Robert J. Shiller