Markets are good all the time, right?

28 03 2009

Krugman comments on the Obama administration’s new found love of all things free-market (to bolster Geitner’s plan), even given some recent and some would say serious (!) evidence to the contrary.  He notes relative to the Geitner plan:

… administration officials tout the virtues of markets in general, and say, hey, this creates a market, so it must be good.

It’s a bit disappointing to see the Obama administration engaging in this sort of market-worship — hailing markets as a Good Thing in themselves, rather than as an often but not always useful means to an end. But I have reason to think that unlike the Bushies, they don’t really believe it; it’s just politics. Which is actually better than having genuine market fanatics running things, I guess.

Advertisements

Actions

Information

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s




%d bloggers like this: