Joe Scarborough: Please Stop Saying Laissez-faire

I’m listening to Joe Scarborough on MSNBC, and he says: “Laissez-faire capitalism is a wonderful thing except in this case …”

I’ve heard stuff like this over and over the past few months: A politician says “I’m a big free-market guy, but …”

What’s sad to realize is that these people think that what we have in American is free markets and laissez-faire capitalism. We don’t have these. See my post The Myth that Laissez Faire Is Responsible for Our Present Crisis.

The sooner that we understand that it is largely government that is the cause of the present crisis, we can realize that relying on government for a cure is dangerous and predetermined to fail.

Resources: The Bailout Reader at the Ludwig von Mises Institute and Global Financial Crisis at the Cato Institute.

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