41. Ed Glasser on the four pillars

April 7, 2009 § Leave a comment

He writes

For our children to face this debt, they will need free trade, private ownership, and respect for private property. Eliminating fiscal restraint during a recession is understandable. Eliminating all four pillars of sound economic policy imposes too much of a cost on tomorrow for too little benefit today.

Edward L. Glaeser,

This is a lot of ideology. First, the next egeneration does not pay the debt. the debt is owed in that generation to toehrs i that generation at that time. So the debt really means wealth transfer within a generation, not betwen them.

Second, the free trade means freedom for banks to exploit third world economies. private ownership means using government policy and weapons to protect what is already narroly owned. The diffference between ownership and property might have escaped you but one reers to ownership of business, the other to the ownership of profit (in deposits, land, etc).

So the whole is the talking points of financial conservativism: maintain the status quo as rapidly as possible. No change, and chnage argued against based on the false idea that it steals from aa whole generation.

via Abandoning the pillars of sound policy – The Boston Globe.

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