Tuesday, March 17, 2009

Capitalism Being Demonized

AIG behaved outrageously and Democrats are seizing on the unsavory conduct of this company and renegades like Madoff to make the case against free market capitalism. No doubt Goebbels would have been proud. Obama is a new incarnation of Huey Long. His populist rhetoric is aimed not at the particular entity he picks as target of the day but at the very economic system that gave us more than two hundred years of prosperity. There have certainly been recessions, panics, and a Great Depression, but if markets are allowed to work without the ruining hand of government manipulation, economic growth can return and be sustained. AIG or Madoff are easy to villify but they don't represent free enterprise any more tha William Calley represented the US Army. Resist the temptation to lean toward central planning; once we have socialism-we are over as the America the founding fathers envisioned.

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