Nonsense On Stilts
It is important that the government bail out Fannie and Freddie. The free enterprise system, with its private property rights, profit and loss system of incentives, and market prices that allow individuals to rationally plan, works just fine for all other goods and services: food, clothing, health care, etc. The one exception is housing. Here, greed and rampant capitalism reign supreme, causing vast harm to the populace. The only hope for the average person is government. They are there to help us.
Right? Not so fast.
5 Comments:
Mark,
I think it is important that Freddie and Fannie were nationalized so that in the long term it leads to them no longer existing. They are not free market capitalist institutions and they did not operate as such.
Hopefully, in the long run they government will spin them off as 5 or 6 smaller private companies.
It's funny that highly regulated industries, such as housing and healthcare, are being hoisted as failures of free market capitalism, which needs (more) government intervention as a solution.
Yaaaaaaaaaaaayy! You're reading the Mises blog. NOW some progress is being made
There is no problem that doesn't need more government intervention. Haven't you got the memo?
> There is no problem that doesn't need more government intervention. Haven't you got the memo?
But of course. Problems caused by government intervention can only be solved by more intervention.
Good old FDR. He knew how to make problems that would last for more than a century. S&Ls, FMs, Social Security. It takes a real artist to create problems that your great grandkids will have to deal with.
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