Tue, 14 Oct 2008

Credit crisis overturns free-market ideology

Oh, please! We've had nothing resembling a free market in this country for over a century - and even then it was fatally tainted.

The corporation is an entity created by the State - in a free market there are no limits to liability on owners. In a free market, the State does not intervene and grant monopolies (think utilities and transportation). In a free market the State does not regulate how you may dispose of or use your property (think zoning and other real estate restrictions). In a free market, the State does not subsidize one group of producers in favor of another (think farm subsidies, tax abatements for new factories/warehouses, etc.)

What we've seen in this country since FDR has more resembled State socialism or fascism than it has the free market. Note the revolving door today betwen Wall Street and the White House and note who's running this "bailout", and where they all used to work, and will work again once the political winds shift.

Perhaps in an Obama presidency we'll at least get our socialism straight up, without the sickening gloss of hypocrisy professing it's undying love for the "free market" while doing everything possible to skew and distort the market in favor of those in power.

The next president will decide whether the shift away from laissez faire is permanent.

(link) [Christian Science Monitor]

/Politics | 1 writeback | permanent link

On 10/15/2008 14:18:31
jhc wrote

'Since FDR' is spot on

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