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The Case For Ignorance And Crudeness In Regulating Wall St.

The almost-always interesting and often right Tom Frank has a column in today's Wall Street Journal that's both interesting and right. It's about the free-market truisms that took on water this year:

In particular, I remembered that quintessential work of market triumphalism, "The Lexus and the Olive Tree," by New York Times columnist Thomas Friedman. It was published in the glorious year 1999, and in those days, it seemed, every clich