Tuesday, February 10, 2009


From Keynesian Creationism - Part I, by Max Borders at TCS Daily:
As popular as the barb ["market fundamentalism"] has become in the titter-factories of the left blogosphere, it misses. For example, it's not that free-market types don't believe in "market failure." Indeed, far from being dogmatic about the power of markets to solve every problem under the sun, it's that we're skeptical about government power to solve any such problem. But prior to that, we start by asking "fail at what?" If we can agree on X and on the criteria for the success or failure of X, we want to then talk about alternative means—particularly those that involve the Rube Goldberg apparatus of state bureaucracy.

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