Monday, September 22, 2008

The blame game

Whose deserves the blame, really, for all this financial chaos? George Bush? Ben Bernanke? Henry Paulson? Big bad corporations? Greed?

Maybe it's our own fault, for not heeding the advice of Milton Friedman:

[G]overnmental measures constitute the major impediments to economic growth in the United States. Tariffs and other restrictions on international trade, high tax burdens and a complex and inequitable tax structure, regulatory commissions, government price and wage fixing, and a host of other measures give individuals an incentive to misuse and misdirect resources, and distort the investment of new savings. What we urgently need, for both economic stability and growth, is a reduction of government intervention not an increase.

From Capitalism and Freedom.

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