When historians look back at 2008-10, what will puzzle them most, I believe, is the strange triumph of failed ideas. Free-market fundamentalists have been wrong about everything — yet they now dominate the political scene more thoroughly than ever.
I also believe that when historians look back at the century, what will puzzle them most is the strange triumph of failed ideas. The failed ideas that government can and should control the economy. Capitalism was responsible for the rise of the United States. When the government tried to control the ups and downs of the economic cycle, it created more problems than it solved.
The problems of today were caused by the government limiting the free market with rules and regulations. Even charities who are trying to help the poor and homeless have had to shut down due to government regulations.
Take the FDA. How many drugs have been approved that have resulted in lawsuits against the companies selling them? Shouldn't the FDA prevent harmful drugs from reaching the market place? Isn't that the reason that we have a FDA?
Take the Department of Education. Shouldn't education be better now that we have a Department of Education. An article in the Review Journal has the title."Many recruits too dumb for the Army". Our education is worse now than it was 60 years ago.
Government spending, taxing, and regulations are ruining this country.