SPECULATIVE MARKETS AND ECONOMIC COMPLEXITY [1988]

Most friends of the market order are by now aware that, however successful they may be during any period of time, and especially after the volatility of the stock markets this autumn, there will always be battles to be fought and an adequate store of diverse ammunitions will have to be kept at all times. Attacks from the depth of the academic grove and from the rhetoricians at the political barricades are to be expected from time to time and have to be resisted. The importance of a long-term flexible strategy for the defence of the market is clear.