Knightskye
08-25-2009, 12:47 AM
http://www.reason.com/blog/show/135608.html
Washington, it seems, is still ruled by Reaganism — by an ideology that says government intervention is always bad, and leaving the private sector to its own devices is always good.
God, what I'd give for that kind of Washington.
There’s a lot to be said about the financial disaster of the last two years, but the short version is simple: politicians in the thrall of Reaganite ideology dismantled the New Deal regulations that had prevented banking crises for half a century, believing that financial markets could take care of themselves. The effect was to make the financial system vulnerable to a 1930s-style crisis — and the crisis came.
Those regulations made crises worse:
http://mises.org/journals/qjae/pdf/qjae1_1_1.pdf
I don't have a problem with him having a job. Just the fraudulent bullshit he writes in his articles. ;)
Washington, it seems, is still ruled by Reaganism — by an ideology that says government intervention is always bad, and leaving the private sector to its own devices is always good.
God, what I'd give for that kind of Washington.
There’s a lot to be said about the financial disaster of the last two years, but the short version is simple: politicians in the thrall of Reaganite ideology dismantled the New Deal regulations that had prevented banking crises for half a century, believing that financial markets could take care of themselves. The effect was to make the financial system vulnerable to a 1930s-style crisis — and the crisis came.
Those regulations made crises worse:
http://mises.org/journals/qjae/pdf/qjae1_1_1.pdf
I don't have a problem with him having a job. Just the fraudulent bullshit he writes in his articles. ;)