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Defending Cato from the Predictably Inaccurate Ramblings of Paul Krugman

cramsey Wrote: Feb 18, 2013 11:39 AM
Government over regulation and interference in economics has as much to do with our current economic crisis as overspending. Massive amounts of regulations strangle small businesses and cripple initiative, the backbone of the free enterprise system. it doesn't do much good for large companies, either, whose profit lines are cut by the overhead of dealing with these inconveniences. most of these are unneccesary, and redundant. Too many are made to protect special interests. Subsidies are something that need to be cut entirely. Why pay farmers not to grow something? It's silly. The EPA needs a thorough sweeping, also. Asfor the economy, I am of the opinion that laissiz-faire is the best way. The market will correct itself that way.

Writing for the New York Times, Paul Krugman has a new column promoting more government spending and additional government regulation. That’s a dog-bites-man revelation and hardly noteworthy, of course, but in this case he takes a swipe at the Cato Institute.

The financial crisis of 2008 and its painful aftermath…were a huge slap in the face for free-market fundamentalists. …analysts at right-wing think tanks like…the Cato Institute…insisted that deregulated financial markets were doing just fine, and dismissed warnings about a housing bubble as liberal whining. Then the nonexistent bubble burst, and the financial system proved dangerously fragile;...