Lynne Kiesling
University of Illinois law professor Larry Ribstein calls the financial bailout “Hayek’s revenge”:
Markets are bigger and more complex than any one set of regulators can comprehend, even Henry Paulson, …
Thanks to Café Hayek for the link.
Hayek would be rolling in his grave if he knew how America is toying with the idea of sprinting down the road to serfdom. Fortunately, there are still smart people out there to serve as stop signs before we skip-to-my-lu to financial ruin. Steve Forbes is a great example of such a warning signal. His latest article- http://www.forbes.com/hcome/forbes/2008/1110/018.html- is as clear an analysis of the current financial crisis and a plan for getting out of it as you will ever find. When people allow the economy to be over regulated and managed by Washington, then we deserve a quick awakening. Ever policy maker should be required to read Forbes’s article.