Tuesday, December 23, 2008

I'll have a job...

I'll have a job as long as Americans can grow up in this country and still spew the following nonsense:
If a politician announced he was running on a platform of "from each according to his ability, to each according to his need" he would be laughed off the stage. That is also the correct response to anyone who continues to make the case that markets do best when left alone.
It's time to drive the final nail into the coffin of laissez-faire capitalism by treating it like the discredited ideology it inarguably is. If not, the Dr. Frankensteins of the right will surely try to revive the monster and send it marauding through our economy once again.
First of all, Miss Huffington - what was the source of our nation's wealth if not capitalism? What enabled this country to succeed so quickly?

Secondly, laissez-faire capitalism died long ago. It died with the income tax of 1913 and the expansion of government spending which crowds out private innovation and charity. It died with the New Deal. It died when the Government Sponsored Enterprises Fannie Mae and Freddie Mac were founded. It died with the increasing regulations placed on the market and the individual over the last century.

We live and work in a mixed market economy - not a laissez-faire one.

Finally, the government sets the rules. The rules that created the series of perverse incentives that created this debacle. And it will only get worse as the government bails out failing companies to the detriment of the few that are actually keeping their noses above water.

We cannot cede the free market ground. It hasn't had a fair chance to prove itself in our lifetimes.

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