Open Letter to the Left - against Corporatism
- From: "The Cheesehusker, Trade Warrior" <Iamtj4life@xxxxxxxxx>
- Date: Tue, 30 Sep 2008 13:53:15 -0700 (PDT)
Interesting read - the author makes the case that the rush to
regulation will only serve to further entrench the corporatism which
caused this mess - YMMV
http://myslu.stlawu.edu/%7Eshorwitz/open_letter.htm
"Consider that perhaps government intervention, not free markets,
caused profit-seekers to undertake activities that harmed the economy.
Consider that government intervention might have led banks and other
organizations to take on risks that they never should have. Consider
that government central banks are the only organizations capable of
fueling this fire with excess credit. And consider that various
regulations might have forced banks into bad loans and artificially
pushed up home prices. Lastly, consider that private sector actors are
quite happy to support such intervention and regulation because it is
profitable"
.
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