Wednesday, January 1, 2014
The Invisible Brains
People have to realize that for the first 140 years of this country's history, the federal government did ABSOLUTELY NOTHING in responding to economic downturns, and every time the economy recovered on its own and often quickly. It was only when the likes of Herbert Hoover, Franklin Roosevelt, Richard Nixon, George W. Bush, and Barack Obama started monkeying around with the markets that the recessions and depressions really started to linger. This is a fact and an exceedingly inconvenient one for Keynesians, I submit.
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2 comments:
Indeed, inconvenient for the statist of all political stripes that advocate for an ever stronger and all intrusive federal presence in our lives.
It ain't 1789, and the country's circumstances are MUCH more complicated, and many businesses (corporations) have little social conscience, but there has to be a limit to government control and intervention into the affairs of private concerns and individual.
I'm not opposed to regulation completely (a limited EPA, a streamlined FDA, etc.) but the bulk of these interventions regarding economic downturns in which they try and cure mass overspending and overleveraging with even more overspending and overleveraging is total insanity, in my opinion.
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