dmb:
Or think about it from the Pragmatist's perspective. We've tried this
unregulated
free-market stuff for thirty years. What are the results? Obviously, we need to
woods:
No we didn't try the unregulated free market for thirty years dmb. We got
rid of regulations set-up during the Great Depression to avoid another
Great Depression namely Glass-Steagall Act for one. FDIC makes for moral
hazard,
and the Federal Reserve is a regulation system that centralizes power, etc...
Bailouts have happened for decades in this country, none this big, but the
free market hasn't been at work for who knows how long. Check out the 1970's,
80's
for example, how bailouts occurred, instead of letting businesses crash they've
gotten bailed out, and then they need help again and Congress bails them out
again with the Federal Reserve helping. Look at the bailout now. All the
money
from the bailout is being used by the Investment Firms and banks to buy other
banks
and to give billion dollar bonuses. It's more corrupt than the free market.
The free market
hasn't been around since maybe the foundation of the U.S., maybe not even then.
Free
market is thrown around too much without full consideration at times. It's
more
about corruption than what kind of market we are using. Pirsig pinned it down
with morals and spiritual rationality.
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