- Capitalism and Alternatives -
Here's one for the Objectivists
Posted by: Barry Stoller on October 22, 1999 at 13:41:24:
Since Greenspan has Objectivist credentials, he is supposed to represent the 'philosophy' of laissez faire capitalism, right?
According to this week's issue of Barron's :
'The problem is Alan Greenspan,' says Charles Pradilla, strategist at SG Cowen. 'He seems determined to take the market down to avoid a Nikkei-like bubble in 1989. He controls the money and can change the rules. Greenspan is like a stern uncle scolding kids who are playing too hard and fast.
(Barron's, 18 October 1999, p. MW5.)
Sounds like a 'command' economy to me... Or is the attempt to foster unemployment (the immediate result of higher interest rates) 'laissez faire' because it's so much fun for the capitalists?