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Politics : Mainstream Politics and Economics

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From: TimF	10/8/2013 6:35:10 PM
	of 85487

...My own emphasis could be summed up as "Don't Panic." Our "panic" since 2008 has resulted in a continual trade off of long term economic growth for the promise of short term relief from the required corrections in the market. By 'protecting' an existing set of inefficient institutional arrangements (including the regulatory environment) and in fact reinforcing the existing arrangement, public policies have not solved the financial crisis, but made the US and World economy more vulnerable. Banks that were "too big to fail" in 2008, are now even "bigger". Regulations fueled by passion (and exploited by special interests) rather than sound economic analysis have worsened the economic environment for doing business and for individuals to realize the gains from trade and the gains from innovation. Rather than restoring the institutions of a robust political economy and a resilient market economy, the policies decisions made first by a Republican administration and then a Democratic administration have pushed us further away from free market principles and closer to a full blown crony capitalist system of special interest politics and corresponding privileges for a few at the expense of the many... coordinationproblem.org

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