Government and Economics Pt. 2

A point of clarification:

Mr. Leonhardt’s argument is not without merit.  You can point to many successful economies with significant government influence: Canada, the Scandinavian countries, France, Germany, etc.

It is his statement that irked me.  He stated, unequivocally, that government involvement is the only way to achieve economic success.  That statement is clearly, factually, and historically false.  That was my point

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4 Responses to Government and Economics Pt. 2

  1. John says:

    Perhaps what Mr. Leonhardt is referring to is: Since we are prohibited from redressing our own grievances, wildwest style, and we are forced to rely on government oversight of the marketplace and their feeble judicial system; that a large and strong oversight system is required. I would prefer an independent, responsive, accessible, & fair legal system in which foul play in the marketplace was adjudicated quickly and firmly and corporate boards would go immediately to prison for wrongdoing in their corporation (more like what would happen to a sole proprietor) and corporation charters be revoked when needed. I don’t think the early free marketers envisioned the corporation and certainly not their mating with our legislators for life…

    • Jon Murphy says:

      I am sure that was his point. However, that system only leads to more marriage between business and the government. I would still argue the free market does more to punish wrong-doers (in business) than any government ever could.

      • John says:

        I read that the only person prosecuted so far in the mortgage/housing scandal was some little guy in AZ that overstated his income on what has become known as a liar’s loan mortgage application. That’s the way our legal system “works”. I’ll send you an article on what Goldman Sacks is up to now after walking away blameless from the last crisis. We are not in textbook free market environment now

  2. Tor Münkov says:

    Nevada has made fraudulent foreclosures a felony. In what way will this improve things. To me, the demand for restrictions is a lose lose. If Congress passes a law making clipping and unnecessary roughness in NFL football a felony, it would be highly unlikely to help anyone besides Corrections Corporation of America and would severely curtail a beloved product of millions of Americans.

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