18 October 2008


Jacob Weisberg at Slate argues that the current crisis has sounded the death knell to the Libertarian thesis that the unobstructed market is all we need.


CyberKitten said...

They would probably argue that it was not unobstructed *enough*... [grin]

Karlo said...

It's my understanding that the biggest problem--the swaps--weren't regulated at all.

Martin Langeland said...

Libertarianism was ever alive?
Always seemed pretty deadly to me.
As Porkypine said: "Somehow the humor in this strip eludes me."
-- ml
With fond remembrance of Mr. W. Kelly

Ajaz Haque said...

The removal of regulation by Republicans has made it free for all. Wall Street could do whatever it wanted in the name of profit. I guess those were not real profits after all and now the poor taxpayers end up paying for the follies of bankers.

Karlo said...

Do I detect a pattern here? (:

I really think they need to rename the ideology "trickle up" theory.

libhom said...

One of the first things I read on the web years ago was an anarchist's critique of libertarianism. The most important thing was the point that you generally get a lot more orders from your boss than from a police officer.

I'm not an anarchist, but I do recognize that corporations can pose at least as much of a threat to liberty as governments.

Karlo said...

I think fairness is a fundamental issue. If we believe that one person's contribution to the economy is worth thousands of times that of other people who seem to do hard and necessary jobs, we really believe in some form of magic.