In recent weeks, the mortgage crisis and, in general, the States' financial system U.S. has questioned the role of free market operation, the role of state intervention in the economy (the type of intervention, their boundaries and responsibilities and penalties for operators and consumers in this serious crisis.) Just as the crisis of 29 led to the New Deal, some stating that this crisis would have similar effects on the role of state and market in the economy. Will have to see it.
Here are some interesting links and some news about the magnitude of the crisis.
- Three trillion tucked system: Digital Pen taken
The head of the Wall Street Journal, half free-market, is expressed in favor of mega-intervention, the critics are against (the crisis are healthy, the government should not intervene, the government's money being paid by the taxpayers, do not because the people on foot). By the way, PPK is the mega-intervention, "it remains to save the house that is qemando, others are made to discuss whether the architectural design was wrong or not."
Analysis of Chicago professor Luigi Zingales
(...) The Decisions That Will Be made this weekend matter Not just to the prospects of the U.S. economy in the year to come, They will shape the type of capitalism we will live in for the next fifty years. Do we want to live in a system where profits are private, but losses are socialized? Where taxpayer money is used to prop up failed firms? Or do we want to live in a system where people are held responsible for their decisions, where imprudent behavior is penalized and prudent behavior rewarded? For somebody like me who believes strongly in the free market system, the most serious risk of the current situation is that the interest of few financiers will undermine the fundamental workings of the capitalist system. The time has come to save capitalism from the capitalists.
Comentarios Lapicero Digital
Crisis financiera: ¿y si no intervenÃan? Por Silvio Rendon
Capitalism in the mirror. By Felipe Gonzalez. Former English Prime Minister
(...) It is a strange crisis, even to react with little coherence. For the time has settled the widespread belief that the market will fix everything and alone. Uploaded (...) full of paradoxes and contradictions of the situation we find ourselves, we ask for policy makers not to interfere, not regulate, to stop freedom to markets, to seek to fix the outrages to which lead, even when the crisis, its causes and consequences, is beyond its powers and local-national capabilities.
Fall of Lehman Brothers caused crisis of global dimensions
U.S. says goodbye to the free market
EDF give U.S. $ 90 billion to save insurance
Rescue Plan Seeks $ 700 Billion to Buy Bad Mortgages
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