people tend to forget that maybe, just maybe, government regulation can be useful. Like, say, to prevent the market from running away with itself and irrationally inflating, only to come crashing down when everyone realizes that much of the money they were depending on was only hypothetically available. Didn't something like that happen in the late 1920s, and wasn't it "big government" that helped people stem the tide of depression until The War hit?
Perhaps that's not the most accurate assessment of the current situation. It may not be the best idea to buy AIG and nationalize it. But at this point our hindsight does seem to indicate that enforcing a few regulations years ago could have prevented this irrational rise and its inevitable crash. I'm happy to hear a rationally constructed and well-supported response to the contrary, however.
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people tend to forget that maybe, just maybe, government regulation can be useful. Like, say, to prevent the market from running away with itself and irrationally inflating, only to come crashing down when everyone realizes that much of the money they were depending on was only hypothetically available. Didn't something like that happen in the late 1920s, and wasn't it "big government" that helped people stem the tide of depression until The War hit?
Perhaps that's not the most accurate assessment of the current situation. It may not be the best idea to buy AIG and nationalize it. But at this point our hindsight does seem to indicate that enforcing a few regulations years ago could have prevented this irrational rise and its inevitable crash. I'm happy to hear a rationally constructed and well-supported response to the contrary, however.
Post a Comment