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Politics : Formerly About Advanced Micro Devices

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To: RetiredNow who wrote (543695)	1/14/2010 8:00:43 AM
From: RetiredNow	Read Replies (1) of 1587370

Great article on the dilemma we face with unfettered capitalism. There is this mistaken notion among GOP members that capitalism should be laissez faire. Very few economists would agree, because there are very well documented scenarios where free markets fail to provide the appropriate incentives to maximize the long term good for the industry and for the consumer. Most economists will tell you that there are scenarios where the government has a role to play to recalibrate markets to help provide stable rules and a level playing field that encourages competition. So a free market working optimally is one that is mostly free, but has a healthy bit of government involvement to help curb abuses. The article below talks about how to get this balance right. He doesn't come to any conclusions other than his fear that business has become a bit too laissez faire and corrupt, which is leading to all these meltdowns and abuses, but also his fear that gov't could over-correct in fearful times such as these. But his observations along the way are insightful. Saving Capitalism . . .from the capitalists. weeklystandard.com

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