"The forces of the market are just that: They are forces; they are like the wind and the tides; they are things that if you want to try to ignore them, you ignore them at your peril, and ... if you find a way of ordering your life that is compatible with these forces, indeed which harnesses these forces to the benefit of your society, that's the way to go." -- Arnold Harberger, University of Chicago Economist
Tuesday, February 24, 2009
How the GOP Should Approach TARP 2.0
"The grave threat of the next TARP is that it will set in motion a downward spiral, beginning with government-imposed conditions diminishing corporate profitability, which in turn could necessitate another injection of taxpayer money, along with further government conditions. This, on top of the vast sums of nonstimulative spending just enacted, will be a drag on economic growth. It's a slippery slope that Republicans must oppose from the outset."