Tuesday, September 23, 2008
Who's for the Market?
Being for the free market means being for full market discipline -- nothing concentrates the mind like the threat of bankruptcy. Therefore, anyone who wants the government to weaken or remove market discipline favors something other than the free market -- the corporate state. This point must be at the root of any analysis of the financial turmoil.
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4 comments:
You don't really want the market if you don't want the discipline imposed by the market. It's like wanting a square without all those angles.
Exactly.
Well, I think the truth that is coming to light is that they want the market forces to be in control when those force enrich them, but they want the government to step in when market forces threaten them. All for further enrichment, of course.
This bailout should come from the bank accounts of the morons who made the mistakes.
Someone said it another way: They want private profits but public losses.
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