Originally posted by wildman
“Absolutely, precisely,” Mr. Greenspan replied. “You know, that’s precisely the reason I was shocked, because I have been going for 40 years or more with very considerable evidence that it was working exceptionally well but in fact it was self destructing.”
If even Greenspan says the
Free Market worship is out of hand, then it is time to really pay attention. Greenspan has been an Ayn Rand-idolizing full blast free marketer for all his professional existence. All that selfish ideology wrapped up as pseudo-economic 'management' totally failed him.
Doesn't that tell people something?
The Chicago School of Economics rise in influence is directly corelatable to the decline of the strength of American industry. "De-regulate, outsource, make a buck, free market rules."
This last collapse of the financial system was the full-on
proof that the Chicago School view is
dead wrong.
But the religion of "Free Market" is out there and no one has a stake big enough to put through its heart.
---------- Post added 03-31-2010 at 04:22 PM ----------
Originally posted by Parallax Nesster, I believe that too.
The difference is that as a conservative I believe that my hand should be the only one reaching into my pocket to get the money to do it.
As a conservative I believe that I should be the one to decide who, when, and how much I help out.
The difficulty with that philosophy is that a whole lot of people fall through the cracks. When charity or care for the poor or sick or whatever depends on appeals to private conscience, then the winners are those who look most sympathetic on TV and the losers are the ugly, or the unattractive or the less appealing people who are in equally desperate straits: poor, ill, homeless, disabled, orphaned, etc.
A society that only helps the sympathetic folks and lets the rest go, really isn't a civilized society in my book.
And that is the precise reason for a final safety net at the bottom. We are all debased by the suffering around us. We all should insure that people have a minimal survival chance, here in "the richest country in the world."
(oops, that's China now).
How about most powerful? nope, China too.
How about.... nope. Those days are passed.