Wednesday, May 6, 2009

whims of authoritarians

It is profoundly disturbing to me the amount of power the government has to whimsically decide which businesses fail and which don't during this crisis. And even more profoundly how little anyone is questioning this power.

Is it because most of the country is currently thrilled with the new leadership, and don't mind giving him dangerous authoritarian power?

Is it because the mindset of socialism, the right and responsibility of government to control industry, has already engrained itself in American culture?

Is it just flat out fear of the current situation that is clouding our judgment, much as fear after 9/11 allowed the Bush administration to pass such heinous legislation as the Patriot act with almost no objection?

Our government is simply not equipped to weigh long term costs and short term pain. A couple years of adjustment and high unemployment and slow or no growth is being weighed against the fundamental disassembly of our market economy and political system of checks and balances and strict restriction of the powers of the federal government (so that inept leaders [remember the last 8 years? anyone?] can't do TOO much damage when they worm their way into power) and virtually no one is even hesitating.

3 comments:

JohnRaymond said...

Let's try to view the power behind the government "failing" a company more factually and less ideologically. The former and current Secretaries of the Treasury, with their strong ties to Wall Street and beyond, both had business favorites and foes. A close, inside look at these ties would be most revealing! Take for instance how the former Treas. Sec'y felt about Lehman Bros. (not only objective criteria were used in refusing to rescue it), and how he and Geithner in contrast felt about AIG. They bottom line is: It's not just "the government" - some socialist monster - wielding its power abstractly or arbitrarily. There were capitalist forces behind those decisions.

Vera said...

How is a mild form of corruption a capitalist force? What you are referring to is a problem with government having undefined / too much power.

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