Sunday, July 12, 2015

Larry Summers Disses Free Markets

In an essay in the Financial Times, former US Treasury Secretary Larry Summers writes:
[T]here are economic laws like there are physical laws and, as with physical laws, economic laws do not yield to political will. The financial crisis, the great recession and sharp increases in inequality have all properly led to a negative reassessment of the functionality of unfettered free markets.
An utterly remarkable comment since neither the financial crisis nor the great recession had anything to do with free markets, but rather with government interventions in the economy.


1 comment:

  1. When your opponent will not engage your argument and constantly lies and lies about your position, you know that he knows he's lying and you know that he knows that he's afraid of your actual position.

    This is ALWAYS the case with statists as they criticize the market or Austrians or libertarians. ALWAYS. They know and we know.