[ExI] Valid economic reasoning should never go out of style
pharos at gmail.com
Mon Jun 1 16:24:31 UTC 2009
On 6/1/09, dan_ust wrote:
> (To be extremely clear: in a free market, there would be no government
> intervention -- either to set interest rates or to make it easier or harder
> for people to buy (or sell or suck the wallpaper off) homes.)
I'm afraid that it looks to me as though you are arguing on the basis
of faith in 'free market' theory rather than letting the facts tell
you their own story.
You will never get a free market without intervention, either from
government or 'big business' or powerful people or organizations.
So nobody can really contest your descriptions of the wonders of free
markets, because we have never had them and we never will.
If anyone points at bad examples you will always be able to say that
it wasn't *really* a free market and, of course, you have no examples
of a successful free market on your side. After the Fed and Bush let
the markets rip and caused financial disaster, amazingly, you say,
'Well that's because they didn't let them rip enough! It was only a
half-hearted rip.' If that isn't a faith-based statement, I don't know
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