Friday, May 8, 2009

Capitalism Didn't Fail...Just saying so doesn't make it true

So many leftist pundits are spouting off about the death of capitalism and how Greenspan was a libertarian so that proves that free-market policies don't work. Well, bullshit.

Greenspan was not a libertarian, he wasn't even an objectivist except perhaps in his youth when he contributed to Capitalism: The Unknown Ideal and advocated a return to the gold standard. But, of course he sold those views out right quick when they threatened to dampen his career goals. No, Greenspan was a soulless mercenary, who knew enough to know what was the right thing to do, and then did the wrong thing anyway. There can be few more damning indictments of a person's moral character than to knowingly choose to do the wrong thing.

As for the so-called failure of the free market system, well our market was not free of government intervention before, so it baffles the mind to think how people can actually convince themselves that we were actually under a free market system before this whole crisis developed. Of course it didn't help that Republicans were preaching free market principles while expanding government like there was no tomorrow, but all that proves was that the majority of Republicans were and still are hypocrites. At least if they have the sense to rally behind Ron Paul this time, perhaps we may see some change for the better. But with all the new legislation that Obama and his gang are going to be able to cram through the legislature, it's a bit like closing the barn doors after the horse has already fled.

Anyway, there's a very good article by objectivist Dakin Sloss over at the Stanford Progressive. It's a very succint and easy to understand explanation of how the government was involved in the economic collapse. I highly recommend it, so please check it out:

Best premises,
American Anti-theist

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