Thursday, March 27, 2008

Bummed Out

I've been in a melancholic mood the entire day. I woke up and, like I do every day, flipped on the television. I had apparently left the channel on MSNBC when I last turned the tv off, so I awoke to the speech this morning by Barack Obama on the current issues pertaining to our economy. Unfortunately Obama, like his Democrat counterpart Hillary Clinton, only argued for increasing what he termed "government oversight" to counteract "greed" along with various other populist talking points. Not only does he feel the need to disparage free trade (see the debate between he and Clinton at Cleveland State), a concept that no modern economist would dare argue to be an overall losing proposition and also a concept that was first popularized by David Ricardo nearly 200 years ago! Obama also feels that our economy would function more effectively with various government interventions, which would only be those which Obama and his cadre of policy makers deem appropriate. Ha! Surely it's not unreasonable to expect that, under the conditions without government distortion, people would be most capable of deciding what is best for them in their own respective transactions within the market. Surely one would not doubt the lessons of history, lessons that were cemented fairly recently with the falling of the Berlin wall and the unraveling of communism, which illustrate quite convincingly the failures of central planning and government micromanagement of an economy.

I'm sick of those who do not know of, nor have studied, the lessons of economics arguing against the free-market and all that the free-market system entails.

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