PrestoPundit

ANOTHER LEADING HAYEKIAN MACROECONOMIST

Posted by PrestoPundit on 09/21/2008

WEIGHS IN:

If there’s one thing those of us on this side of the battle of ideas can do as this all unfolds, it’s to do whatever we can to remind people that the interventionist economy that caused the problems and led to privatized profits and socialized losses (and the “solutions” that will further socialize losses) are NOT “the free market.” Asking why anyone would think bigger government will solve these problems when it was the major cause is another public service we can provide

.

Even though I firmly believe that the fundamentals of the US economy remain strong and that this is not the start of another Great Depression, it is disconcerting to be apparently living through the start of a round of the Higgsian ratchet.

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