And They Say That All The Clever Thinking Is Done By The Left These Days

by Pejman Yousefzadeh on April 15, 2009

When you encounter someone who tells you that all of the good and interesting ideas are coming from the port side of politics these days–and specifically, when you encounter someone who tells you that the Huffington Post is a repository of wisdom–be sure to show them this, in which we are told that George W. Bush killed the free market economy. How? Because while the free market economy requires greed to fuel it, we didn’t have enough regulation, tax breaks went to the rich, subprime mortgages were lent out, the market and government didn’t insert any risk, and we had a war in Iraq.

Never mind the fact that the banks that were part of the financial crisis were exceedingly regulated (while the hedge funds that get scapegoated were not and are not; I know I keep having to make this point but that’s because there are entities like the Huffington Post still in existence), the tax system is incredibly tilted against the rich, the mortgage market was caused by government, there was plenty of risk involved–as evidenced by the fact that the piper had to be paid when the financial crisis hit and no one got away pain-free, and the war in Iraq had nothing to do with the financial crisis and is introduced here as a non sequitur portion of a lefty bill of particulars, and not as a genuine cause of the supposed diminishment or death of the free market economy.

At the end of the day, the free market will do just fine. If this article is representative of the kind of “thinking” that goes on before the Huffington Post puts pixels to computer screens, however, by all rights, Arianna’s little toy should soon go the way of the dodo.

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