Why aren't there hordes of economists studying meaningful alternatives to market capitalism? Because we've been experimenting with various other systems--both localism and extreme centralization--for over a century, and the experiment produces the same damn result every single time: human lives that are nasty, brutish, and short. And no matter what the professors who signed the Milton Friedman letter may believe, we haven't discovered any alternative to neoliberal policies, other than "be sitting on commodities during a boom", which is good luck, but not really good advice. The problem with neoliberal policies was not that they drove people into poverty, but that they weren't nearly as effective at driving people out again as we once hoped. Yet they are still more effective than anything else we've tried.(via Instapundit)
Sunday, August 03, 2008
QOTD
Megan McArdle:
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2 comments:
Let's try free market capitalism. We subsidize the oil industry even now. It's laughable.....all the programs that interfere with free market dynamics to protect the rich and have the poor subsidize the rich. You "conservatives" are a bunch of hypocrites. Get honest. The system works for you and that's really all you care about.
......THE NATIONAL DEBT.......
......THE TRADE DEFICIT.......
From conservatives to the American people.
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