"We're in a race to see whether politics will become the dominant means of allocating financial wealth in this country." - Tyler Cowen
Tyler is no hard-core market fundamentalist and I'm ill-placed to say if he's right or wrong on this, but if it is so, it's rather disturbing.
Every time politics and politicians have dominated the allocation of financial wealth, there has been ruin, be it under the guise of monarchy, communism, fascism, corporatism or any other -ism out there. Maybe we've forgotten this lesson of history because TARP doesn't end with those three letters.
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