Showing posts with label de-regulation. Show all posts
Showing posts with label de-regulation. Show all posts

Friday, September 26, 2008

Shock Doctrine???

Several House and Senate Republicans apparently are of the opinion that Treasury Secretary Hank Paulson's proposal to bail the country out of its current financial crisis is not draconian enough. These Republicans want LESS regulation, believing (incredibly) that market forces will do the right thing! Time and time again, market forces have failed to do the right thing, resulting in successive financial calamities. Methinks that these GOP hardliners are actually disciples of Milton Friedman and the Chicago School of Economics. These yahoos want to see the whole system collapse so that they can institute an Ayn Rand-style unregulated economy upon the landscape. A lack of regulations lead to a series of recessions culminating in the Great Depression. De-regulation of the Depression-era reforms has lead to the current fiscal crisis. Ayn Rand was wrong and her Libertarian followers are wrong also. More regulation is needed.