Monday, October 08, 2007
Tuesday, October 02, 2007
We haven't talked about economics for a while ... OK, we haven't talked about anything for a while, but still ... I think I'm going to highlight this post from our friend Jack Whelan:
... she rejected Greenspan's characterization of her as a socialist, defining herself rather as a proponent of a mixed economy, which is essentially what we've had here in the U.S. since the New Deal.
That's really the argument here. It's not between radical laissez-faire capitalists and radical socialists, but between radical capitalists and mixed-economy conservatives. The people who want to preserve the New Deal compromise between free markets and government controls are the real conservatives, because they are trying to conserve institutions that have already been established and despite their flaws have proved themselves effective. The fact that those who now defend the New Deal are considered leftists and that the radical capitalists are considered mainstream moderates shows how twisted our political discourse has become.