sether

Grantham on the Financial 'Titanic'

Libertarianism is infantile.
There is no free market utopia. All Utopias are fiction, usually based on the writings and fantasy of some naive mind. Whenever 'free' markets are shown to have produced results contrary to their ideals, Libertarians will always make the self-stultifying arguement that market conditions were not truly 'free'. There are no truly free markets, and never will be. This is a faith, exalting the numinous, ignoring reality. It's also annoying.

On Nov 06 11:16 AM John Galt wrote:

> Failure is what makes America great.
>
> Bad businesses go out of business, and they are replaced by better
> run businesses. Good businesses expand... In all fairness, the ones
> that go under aren't "bad". They just don't propertly allocate resources
> and serve the market the way customers want.
>
> Government doesn't work this way. When a government program failes
> ... like schools, medicare, medicade, social security, freddie, fannie
> etc.etc. etc. They don't fail, but in fact they ask for MORE money.