May 12, 2009
A Fundamental Change in Governing Philosophy
Many of the changes in government stem from one very fundamental philosophic change. The leaders of the federal government, from the President on down, believe that the market's power to self-correct is weak (or illusory) and that government is the "only" (to quote Obama's first press conference) answer. This explains the bailouts, Schumer's bill on corporate governance, the new Assistant Attorney General's speech on antitrust enforcement, and the list goes on. The change is mistated. It ought to be that "the markets ability to self-correct is inferior generally to the government's ability to correct and/or self-correct". Stated in this way, the philosphy falls in on itself. The new administration is going to inflict some long run damage on our economic system.
May 12, 2009 | Permalink
TrackBack URL for this entry:
Listed below are links to weblogs that reference A Fundamental Change in Governing Philosophy: