Controls breed controls – part 2
In my previous post I described how controls breed controls: when politicians intervene in the economy, they create distortions and problems which, unless corrected by rescinding the controls, necessitate further controls–a process ultimately resulting in total control by the government over the economy. We can see this process at work in the two domestic issues that have dominated headlines over the last year: the debate over health care and the financial crisis.
In both cases, the conventional wisdom has been that the free market created problems only government intervention can solve. In both cases, the conventional wisdom is wrong: it was government controls that created the problems. Read the rest of this entry »

Every time Alan Greenspan opens his mouth to blame some aspect of the financial crisis on free markets, rather than government intervention, many commentators gleefully proclaim it another nail in the coffin for laissez-faire capitalism. Even Alan Greenspan, the refrain goes, acolyte of Ayn Rand, lover of laissez-faire, admits that the current crisis was a failure of his free-market philosophy.
Apparently Dan Rather thinks Obama should not only make news, but remake the news.
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