Marvin Gandall wrote:
Interesting, too, how a large part of the Marxist left echoes the Hayekians in objecting to any "bailout" of the banks - for reasons having to do not with revitalizing the system, of course, but of ending it.
There are frequent affinities of this sort. Many, maybe most, Marxists share the Austrian view of credit and state bailouts - that easy credit and bailouts only postpone the inevitable crisis, and ensure that it will be worse when it finally arrives. For both, Keynes is the enemy (and gold the only authentic money). Doug
