Wednesday, June 3, 2015

Fwd: Markets

Sounds like he is saying that government can do whatever it wants to produce the outcome it wants.  He is saying the political system trumps economics by putting in different inputs.  But when you use government to control economics, you are sacrificing freedom ...

On Wed, Jun 3, 2015 at 3:25 PM,

'One of the more striking aspects of free market ideology in American politics is how cornucopian magical thinking has become not just acceptable, but ubiquitous and nearly unquestioned.

Consider the reaction to a seemingly commonsensical observation that presidential contender Bernie Sanders made on Tuesday. "The whole size of the economy and the GDP doesn't matter if people continue to work longer hours for low wages and you have 45 million people living in poverty," Sanders told CNBC. "You don't necessarily need a choice of 23 underarm spray deodorants or of 18 different pairs of sneakers when children are hungry in this country."

"Free markets are not irrational; they are a reflection of what people actually value at a particular time relative to the other things that they might also value. Real people simply want things that are different from what the planners want them to want, a predicament that can be solved only through violence and the threat of violence. [National Review]"

The final judgment, then, must inevitably be which outcomes are morally defensible, and which are not. So if you're cool with starving children, then by all means, keep snickering at Sanders.'

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