The current consensus is that the financial sector needs more regulation. This perspective sees markets as sound in principle, merely distorted by concealed risks. However transparency is no guarantee against bubbles and crashes. It is the rationale for the universal interconnection of capital that needs to be disputed, argues André Orléan.
André Orléan
is head of research at the Centre National de la Recherche Scientifique (CNRS) and author of: Pouvoir de la finance [The Power of Finance], Paris, Odile Jacob, 1999.
