Slate: The End of Libertarianism

[rational thinker]

http://www.slate.com/id/2202489/

Email this writer with reasonable rebuttals and not cursing and ad hominems please..

[politicus]

Weisberg wrote a version of the same article for Newsweek titled "The Libertarian's Lament" http://www.newsweek.com/id/164502

He obviously doesn't have a clue. Of course, no one inside the Beltway does :(

My comment to Newsweek:

"Mr. Weisberg’s thinking is extremely dangerous. This is exactly the kind of thinking that will turn this recession into a depression.

The United States financial system is indeed very highly regulated. We have the Federal Reserve, the Securities and Exchange Commission, the Commodities and Futures Trading Commission, the Department of Justice, FDIC, State Attorneys General, etc.

The financial crisis is in no way a failure of libertarianism. Instead it is the natural result of the moral hazards generated by crony capitalism in which Wall Street pays off Congress to have its own way. Investment banks took huge risks knowing that if they were too large to fail they would be bailed out, just as in the Savings and Loan scandal. Bush’s bailout ensures that this moral hazard will continue into the indefinite future.

The number of bad assets will continue to grow, the federal government will keep printing money which will become increasingly worthless. The government will have even less ability to deal with a depression than today. The cycle of debt has to end. The U.S. cannot afford enormous Wall Street Bailouts on top of two major wars in Iraq and Afghanistan, military bases in 107 countries, and the expanded rosters of Social Security and Medicaid. Congress is bankrupting the United States. The next administration will have to learn to live within its means. I have yet to hear any serious economic proposals from either Obama or McCain. They do not seem to realize the seriousness of the situation that we are in. Instead, they are content to poke fun of each other at the Al Smith Charity Dinner."

[jcarcinogen]

The death of the Libertarian Party:


I saw the birth of a new party. (Conservative Party?.... please discuss.)


*** Or what the founding fathers dd and get rid of the corruption of King George.

[politicus]

It may be the death of the Republican Party.

The MSM seems to think that the Republican Party stands for free markets and capitalism. That's why Bush and the Neo-Cons have expanded both the federal government and the national debt the most since the Great Depression.

If the GOP dies, good riddance. However, their negligent government doesn't mean that free markets and libertarianism are discredited. On the contrary, crony capitalism of the Republicrats will be.

[Truth Warrior]

The author of the article does not even have a clue, on what he is pontificating about.<IMHO> Just another pathetic typical statist, the solution is always MORE government. :p :rolleyes:

[Conza88]

The end? It's just the beginning... ;)

[JAlli41]

The more I discuss libertarianism with people, especially at school with my professors, the more I realize they just don't have any clue what libertarianism even is. And if I hear the cliche "as we are finding out there are no libertarians in a financial crises," one more time, I'm going to strangle someone. I do not even know what that is supposed to mean. Have we all just gone away when the stock market collapsed? Had we not been predicting it? Did most Americans not come out to protest the bailout? There is a real lot of ignorance about what we believe in both the theoretical and reality. But according to my professor, libertarians want to live in a libertarian wonderland that looks like Somalia...

[angelatc]

The more I discuss libertarianism with people, especially at school with my professors, the more I realize they just don't have any clue what libertarianism even is. And if I hear the cliche "as we are finding out there are no libertarians in a financial crises," one more time, I'm going to strangle someone. .

With just cause! millions of Americans called the Congress with the libertarian message of "leave our money alone!" so I am not sure what they mean.

[Zera]

It's because they think that non intervention with the market is why the economy is dying. They don't realize it goes beyond that.

[Lucille]

They wish.

[mconder]

Here's your proof Jacod Foolsberg: At it's founding America was largely free of Government medeling and we became the most successful nation in history. As time went on, government over stepped it's Contitution bounds more and more. Fast forward to today, and the government's intrusion in the everyday life in almost unbareable and yet we have less and less. In fact, all we have now is debt and lazy-aholes in America who want soemthing for nothing. That's what your Government has done, moron!

[mediahasyou]

This financial collapse will be the end of state control. Once the economic beast gets free, no self interested person will turn back. Meaning the entire populace. Freedom is inevitable.

http://agorism.info

[MGreen]

We have narrowly avoided a global depression and are mercifully pointed toward merely the worst recession in a long while
LMAO, really? Things look to be getting worse and worse; I had no idea we're actually doing better!

It's infuriating reading this kind of crap. He doesn't even respond to libertarian arguments, simply says they're unconvincing and moves on. Then again, if he's simply listening to CATO and Reason, I could understand his position.

[Truth Warrior]

Blaming Liberty for the State’s Depredations
http://www.lewrockwell.com/gregory/gregory165.html (http://www.lewrockwell.com/gregory/gregory165.html)

[mport1]

Wow, great article. I guess making very vague and misguided points without providing any facts whatsoever now counts for a good argument. Libertarianism somehow caused the crisis but I won't get into how and regulation is our savior but I'm not going to explain that... This idea that more regulation would have helped is ludicrous, and notice that almost none of these people calling for more regulation specify what these magical regulations that will fix the system should be and why they will work. Regulations in this country have been increasing since the beginning of America and at an even more dramatic pace within the last few decades, especially in financial markets. I laughed out loud when he brought up the point that Greenspan, the head of the centralized institution that has MASSIVE control over the free market, calls himself a libertarian. If Karl Marx called himself a libertarian does that mean he is one?

These people need to take a look back at history. Somehow they are duped to believe again and again and again that free market capitalism (which we haven't had) has caused every major crisis that we have been through and that we need more government intervention to solve every problem (funny that we still have these problems if government was brought in to fix them). It is really amazing to me how the media, academia, and government can always manage to shift the blame away from the actual culprit and onto the hands of "greedy," free market capitalists who had little to do with any problems. Unfortunately, they have the upper hand and businesses and libertarians are powerless to stop them.

[acptulsa]

They just redesigned their website to look like the Onion and are having trouble with it. Think we can crash it?

I'd just love to see the headline, "Liberal blogspot pronounces libertarianism dead and thousands of libertarians crash their server informing them that this rumor is greatly exaggerated."

[Jeremy]

Read the bottom:

"A version of this article also appears in this week's issue of Newsweek."

[brandon]

//

[Brassmouth]

Read the bottom:

"A version of this article also appears in this week's issue of Newsweek."

Son of a bitch. :mad:

[yongrel]

Wow. Wow. That article was such bullshit, I don't even know where to start.

[acptulsa]

Wow. Wow. That article was such bullshit, I don't even know where to start.

I don't know which is scarier and/or more sad. That they want to write a eulogy at all, that they think this sad tripe is good enough to be a death blow, or that people are stupid and brainwashed enough that it just might be...

[Truth Warrior]

I don't know which is scarier and/or more sad. That they want to write a eulogy at all, that they think this sad tripe is good enough to be a death blow, or that people are stupid and brainwashed enough that it just might be... AKA "sheeple". ;)

[itsthepathocrats]

eom

[Chieftain1776]

Hilarious post (http://corner.nationalreview.com/post/?q=OWMyOTExNmNlYjBiOGY2ZjcyNTNjYzBhYTQwODVlODc=)by Jonah Goldberg at National Review. He is the author of the really good book "Liberal Fascism" and said writing it made him more libertarian. The text of the post (Edit: I added the links one by one). I would only add http://www.lewrockwell.com/gregory/gregory165.html and the link from Reason which was directly named in the hit piece http://www.reason.com/blog/show/129561.html

Feeding Libertarians [Jonah Goldberg]

As I expected, the well-deserved beat down of Jacob Weisberg's amazingly silly epitaph of libertarianism (fast on the heals of his epitaph of social conservatism pegged to Bristol Palin's pregnancy, as Ross notes) is picking up speed nicely.

Here's Brink Lindsey doing the major body work (http://www.cato-at-liberty.org/2008/10/20/the-end-of-jacob-weisberg/).

A quick pinch (http://www.marginalrevolution.com/marginalrevolution/2008/10/what-caused.html) by Tyler Cowen.

Ilya Somin steps on his fingers (http://volokh.com/posts/1224544434.shtml) while he tries to get up.

Some piling on (http://johnschwenkler.wordpress.com/2008/10/20/the-end-2/) by John Schwenkler.

The always deadly Will Wilkinson runs out into the street (http://www.willwilkinson.net/flybottle/2008/10/20/weisberg-fail/) to beat on him some more.

The folks at RightNation ask if this is a private fight or if anyone can join. (http://www.rightnation.us/forums/blog/mr__naron/index.php?showentry=3051)

The gang at Protein Wisdom tell the pulped Weisberg, "These aren't the GSEs you're looking for (http://proteinwisdom.com/pub/?p=2139)."

10/21 10:51 AM

http://corner.nationalreview.com/post/?q=OWMyOTExNmNlYjBiOGY2ZjcyNTNjYzBhYTQwODVlODc=

[Kade]

Good article.

It is also worthy to note that when Krugman won the Nobel in Economics last week, it really put flame to the tinder in starting the end of this economic mental stagnation.

Very good article.

Of course, the great rebuttal will always be the Whine and Cry of "socialism". Reduce the word's meaning, doublethink it, stuff it, and use it as propaganda. "Libertarians" support Capitalist Cronyism and giving the poor taxpayer's money to the wealthy. That a few of you would say "never" does nothing to negate the mainstream.

[Kade]

Socialism is equally dead, and it's use as an insult is quietly becoming severely passe in academic circles.

We are not a country that has total state ownership of property and price setting. (Although the Republicans have ironically gotten us closer)

Common sense may reign again. But burning down the bridges, especially in insulting the liberals, has really soured this movement beyond repair.

Join the "dark" side, and help restore our Constitutional liberties.

Otherwise, just stfu.

[Zolah]

Good article.

It is also worthy to note that when Krugman won the Nobel in Economics last week, it really put flame to the tinder in starting the end of this economic mental stagnation.

Very good article.

Of course, the great rebuttal will always be the Whine and Cry of "socialism". Reduce the word's meaning, doublethink it, stuff it, and use it as propaganda. "Libertarians" support Capitalist Cronyism and giving the poor taxpayer's money to the wealthy. That a few of you would say "never" does nothing to negate the mainstream.

I don't think that this article can be considered good under any criteria..

[acptulsa]

I don't think that this article can be considered good under any criteria..

I found it to be as fine a bucket of fail as ever I had seen...

[Kade]

:D

[DirtMcGirt]

Libertarian Party needs to do some guerrilla marketing... there are many people that don't even know the party exists further more what they stand for... what they should do is have a Libertarian Party Awareness Day, the same date every year in the summertime...and distribute info and unleash the mooninites...

http://img111.imageshack.us/img111/3123/mooninitesoa2.jpg (http://imageshack.us)

[AutoDas]

Good article.

It is also worthy to note that when Krugman won the Nobel in Economics last week, it really put flame to the tinder in starting the end of this economic mental stagnation.

Very good article.

"Krugman contends that nations can create comparative advantages by subsidizing certain industries, something the ancients once called Mercantilism." Forbes.com (http://www.forbes.com/opinions/2008/10/13/krugman-nobel-economics-oped-cx_wla_1013anderson.html)

There is nothing new to discover in economics since Adam Smith wrote his magnum opus on letting the market guide itself, but the only thing that has changed are the people who need biased economics for their political clout.


Of course, the great rebuttal will always be the Whine and Cry of "socialism". Reduce the word's meaning, doublethink it, stuff it, and use it as propaganda. "Libertarians" support Capitalist Cronyism and giving the poor taxpayer's money to the wealthy. That a few of you would say "never" does nothing to negate the mainstream.

You mean you and your infatuation with calling yourself a "liberal" with today's definitions? Not much of a liberal if you group everyone here as liberal Republicans who favor the bailout.

[Knightskye]

Just give them a link to this Reason article:
http://www.reason.com/blog/show/129561.html

Matt Welch to the rescue!

[Menthol Patch]

The Libertarian Party died when the "Libertarian Reform Caucus" took over.

[Truth Warrior]

Can we libertarians have our name back now? :D