The End of Libertarianism and Other Adventures in Financial Policy Fantasy
Don't blame free markets for the current panic
Jeffrey A. Miron | October 21, 2008
Reason.com is Libertarian. Jeffrey A. Miron, according to the linked article, "is a senior lecturer in economics at Harvard University." He argues the standard Libertarian Capitalists' party line. Don't blame cronyism or statism on laissez-faire capitalism.
I'm not. I know exactly the picture Miron is attempting to paint. I don't like his picture. I don't like how things are, but I don't want to live in his Heaven. It isn't good enough. It falls woefully short even if it would be better than what we have now.
Pre-Hamiltonian American economics was better, all other things being equal. I believe that. That doesn't mean that that pre-Hamiltonian economic system was the best, not even close.
If we're going to change, let's go for the best. Why should we aim lower? There's no point in it.