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Do not give in to Evil, but proceed ever more boldly against it

Friday, June 18, 2010

Sowell: Another Myth - Gov't Can Cure Economy's Ills

Thomas Sowell's latest:

Sometimes you can read a book that will change your mind on some fundamental issue.

Rarely, however, is there just one page that can undermine or destroy a widely held belief. But there is such a page — Page 77 of the book "Out of Work" by Richard Vedder and Lowell Gallaway.

The widespread belief is that government intervention is the key to getting the country out of a serious economic downturn.

The example often cited is President Franklin D. Roosevelt's intervention, after the stock market crash of 1929 was followed by the Great Depression of the 1930s, with its massive and long-lasting unemployment.

This is more than just a question about history.

Right here and right now there is a widespread belief that the unregulated market is what got us into our present economic predicament, and that the government must "do something" to get the economy moving again. FDR's intervention in the 1930s has often been cited by those who think this way.

What is on that one page in "Out of Work" that could change people's minds?
***


Read the rest.

Imagine what six more years of Obamastration will do to America.

7 Comments:

Blogger Taylor H said...

I think it's already obvious what six more years of this would do...

June 18, 2010 at 4:31 AM  
Blogger Dedicated_Dad said...

Fact: Roosevelt's manipulations turned a little problem into a *HUGE* debacle - which opened the door to an even MORE huge, fundamental change in our Republic.

This bunch didn't invent "Never let a good crisis go to waste."

History is very clear - when the .gov stays out of it, and lets Nature (in this case read "the market") take its course, things are better, and when they muck with it, they make it worse.

Period.

Still, they muck with it. Further, they muck with it on a scale that would have made Comrade Franklin pale in shock and awe.

The "conventional wisdom" is that they're fools, but this is utterly and demonstrably false.

As I am wont to say - "They're MARXISTS - not MORONS!"

I submit that they *KNOW* they're making it worse, and they're doing it DELIBERATELY.

Likewise, the Gulf/oil fiasco - as the truth begins to dribble out, it becomes obvious that the problem is not ignorance or ineptness.

The reality is that the .gov has - at every turn - refused to accept any help or implement any plan that could have lessened the impact. Why? SIMPLE. They NEEDED the mess to be as big as they could make it in order to justify their actions.

Moratorium on all drilling? Done. They've said for years that gas needed to be 2-3x its "normal" price so people would use public-transit, car-pool, etc.

"Never let a good crisis go to waste -- even if you have to *MAKE* one!"

Wait and see...

They promised their "base" all sorts of nonsense in the campaign - and it's not hard at all to see how they plan to implement it: tear down EVERYTHING - then they'll be "forced" to step in to "fix" it.

God help us...

DD

June 18, 2010 at 7:50 AM  
Anonymous Tom Wolff said...

98% of government should be immediately disposed of, and then we would see economic recovery on a scale that has never been seen before. I'll bet my paid off house on it.

Oh, the ex-gov't employees would have to do some roadside trash and weed removal until they learned a PRODUCTIVE skill, but, oh well...

June 18, 2010 at 10:09 AM  
Blogger Carl said...

I've enjoyed reading Thomas Sowell for several years. A brilliant and articulate man. What a shame that more Americans aren't familiar with him. He speaks truth.

June 18, 2010 at 5:43 PM  
Anonymous Anonymous said...

+1 for Dedicated Dad!

They are Marxists not morons. They know damn well what they are doing. To quote FDR: "nothing in politics happens by accident"

This is part of a greater plan...but don't worry it is for the "greater good".

KPN3%

June 18, 2010 at 11:50 PM  
Anonymous Anonymous said...

The real tragedy here is that the anti-government fervor will grow and our military men and women will get lumped into the mix.

I already see and hear it. "How come that Sgt or Capt has such a nice car...and/or house?" What have they done to deserve a secure job and salary?

Thing is... I like having a strong military. The rest of the gov't could definately afford some major cuts. Lots of leeches in the system.

June 20, 2010 at 2:21 AM  
Anonymous Anonymous said...

Re: Sowell's article

A myth about the 'free market' is examined over @ American Thinker. The title is "Out of Work? Need Not Apply" & the date is June 17, & it sheds light on a studiously ignored part of the employment/unemployment equation.


Cassandra (of Troy)

June 21, 2010 at 12:50 PM  

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