Emile Servan-Schreiber is doing a great job of putting prediction markets on the French media scene. (As I type this, he is on French TV.)

2 green-foot French economists (David Thesmar and Augustin Landier) are hyping the prediction markets in the French media, using a non-scientific language (&#8220-predictive markets&#8221-, &#8220-stocks&#8221- *) and few references to hard facts. Their background is not stellar. They penned an Op-Ed in July 2007, titled, &#8220-The mega-crash won&#8217-t happen&#8221- [PDF file].

Of course, one year later, the developed world experienced (and is still experiencing) the worst financial crisis ever. What&#8217-s funny is that, in 2007, our 2 economists-in-chief were hyping the non-regulated credit derivatives that sent us into the depression, and denying the possibility of systemic risk. What a bunch of incompetents.

Emile, please recruit more serious people.

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[*] The good vocabulary is &#8220-prediction markets&#8221-, and &#8220-traded bets&#8221- or &#8220-event derivatives&#8221-.

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Next: French bozo economist Augustin Landier is hiding his 2007 Op-Ed that stated that the financial crisis “won’t happen”.

Next: French bozo economist David Thesmar is hiding his 2007 Op-Ed that stated that the financial crisis “won’t happen”.