Thursday, December 25, 2008

Arianna Huffington: Laissez-Faire Capitalism Should Be as Dead as Soviet Communism

The collapse of Communism as a political system sounded the death knell for Marxism as an ideology. But while laissez-faire capitalism has been a monumental failure in practice, and soundly defeated at the polls, the ideology is still alive and kicking.
Arianna Huffington: Laissez-Faire Capitalism Should Be as Dead as Soviet Communism

The only place you can find an American Marxist these days is teaching a college linguistic theory class. But you can find all manner of free market fundamentalists still on the Senate floor or in Governor's mansions or showing up on TV trying to peddle the deregulation snake oil.

Take Sen. John Ensign, chairman of the National Republican Senatorial Committee, who went on Face the Nation and, with a straight face, said of the economic meltdown: "Unfortunately, it was allowed to be portrayed that this was a result of deregulation, when in fact it was a result of overregulation."

Or Gov. Mark Sanford, who told Joe Scarborough he was against bailing out the auto industry because it would "threaten the very market-based system that has created the wealth that this country has enjoyed."


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