Tuesday, 16 September 2008
Chickens and roosts?
For decades now, the accepted ideology in both the US and the UK has been the Friedmanite doctrine that government should leave business to run its own affairs and not hobble it with unnecessary regulation. Now, as banks etc. crash as a direct result of their own greed, those same ideologues are using taxpayers money to what is in effect nationalise these failing financial institutions. Are we hearing a "sorry, we got it wrong" ? No. We are not. I can only surmise that when taxpayers have bailed out these corporate pirates it will be back to business as usual. Until the next time. When will we hear a serious politician saying - "hey, maybe government should actually govern and not contract it out to our friends."? I will not hold my breath.