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The era of free markets

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As we prepare to partially nationalize the American automobile industry, it is a good time to remember that George Bush is not a free market ideologue and that he did not pursue free market policies. Please remember that in his last year in office he initiated and condoned measures that helped destroy the natural feedback loops that allow markets to recover from the inevitable mistakes that human beings make. And tell your children. I know. It seems obvious. But twenty and thirty years from
now, there will be people writing about how George Bush’s free market ideology caused the mess we’re in.

Here is the kind of problem [2] that we are going to see more and more of as politicians respond to incentives rather than to some idea of the "public good" (HT: Travis Page). Basically a Wisconsin member of Congress, Steve Kagan, wants the bailout of Chrysler to be contingent on another company involved with Chrysler re-opening two paper mills the company had closed.

Oh what a tangled web we weave when billions of dollars are up for grabs.

Will no one stand up to stop this?

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