In response to:

Greed

OldMexicanblog Wrote: Oct 24, 2012 11:34 AM
Re: CutSpending, -- but those corrections in the past were to painful for certain groups of people so they decided they could manage the corrections better. -- It can be argued that the managed corrections managed to make things worse. See: The Great Depression of 1931-1946. For examples of how a hands-off approach made things better quicker, see the UNknown "Great Depression" of 1920-1921. Big differences in approach, totally different results.
On TV, my Fox colleague Bill O'Reilly says, "The recession was brought on largely by greedy Wall Street corporations."

Give me a break.

Bill's smart. If he believes such things, we who care about freedom have done a poor job communicating economics.

Blaming problems on "greed" is a mindless cliche.

Yes, Wall Street was greedy -- but that's nothing new. Greed is a constant. Did you ever turn down a raise? We need a free market because it restrains greed. Laws against theft and fraud help, but competition does more. With this election approaching, and statist, eager-to-regulate candidates in ascent, we...