Kevin_Kennedy
Defend Liberty
- Aug 27, 2008
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The worst thing you can say about libertarians is that they are intellectually immature, frozen in the worldview many of them absorbed from reading Ayn Rand novels in high school. Like other ideologues, libertarians react to the world's failing to conform to their model by asking where the world went wrong. Their heroic view of capitalism makes it difficult for them to accept that markets can be irrational, misunderstand risk, and misallocate resources or that financial systems without vigorous government oversight and the capacity for pragmatic intervention constitute a recipe for disaster. They are bankrupt, and this time, there will be no bailout.
How the financial collapse killed libertarianism. - By Jacob Weisberg - Slate Magazine
This guy is fundamentally wrong about pretty much everything he talks about. He doesn't mention the Federal Reserve inflating the currency, doesn't mention how much we're spending per month on our overseas empire, and doesn't mention our national debt as causes of this crisis. He also neglects to mention that it was Libertarian's and Austrian economists who correctly identified this crisis years before it even happened. This crisis should have been vindication for Libertarian's and the free market, but too many people are believing the government's rhetoric about a "lack of regulation."