An Open Letter to my Friends on the Left
Steven Horwitz
Department of Economics
St. Lawrence University
sghorwitz@stlawu.edu
September 28, 2008
My friends,
In the last week or two, I have
heard frequently from you that the current financial mess has been
caused by the failures of free markets and deregulation. I have heard
from you that the lust after profits, any profits, that is central to
free markets is at the core of our problems. And I have heard from you
that only significant government intervention into financial markets
can cure these problems, perhaps once and for all. I ask of you for the
next few minutes to, in the words of Oliver Cromwell, consider that you
may be mistaken. Consider that both the diagnosis and the cure might be
equally mistaken.
To read the rest of the article and you should, it is worthy of your time. Follow the link:
http://myslu.stlawu.edu/~shorwitz/open_letter.htm
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