3 ms·
When the market punishes bad actors like this there tends to be a lot more fallout. Government regulations can help limit the blast radius or avoid them altoge
by babypuncher 4y ago
When the market punishes bad actors like this there tends to be a lot more fallout.
Government regulations can help limit the blast radius or avoid them altogether.
In 1929 the free market punished the banks for their bad behavior and everyone suffered a decade long depression because of it.
- aww_dang 4y agoI disagree on all points here. Not only did the US central bank create the conditions for the stock market crash of 1929, but the interventionist policies of FDR prolonged the economic hardship. Interventionism put the "great" in the "great depression". Not only did they create the bust, but they magnified the blast radius. https://cdn.mises.org/Americas%20Great%20Depression_3.pdf https://cdn.mises.org/Americas%20Great%20Depression_3.pdf https://mises.org/library/did-fdr-make-depression-great https://mises.org/library/did-fdr-make-depression-great https://mises.org/library/forgotten-depression-1920 https://mises.org/library/forgotten-depression-1920 https://mises.org/wire/1920-crash-cured-itself https://mises.org/wire/1920-crash-cured-itself
- twiddling 4y agoHmm. all the same source, as if there is an agenda...
- babypuncher 4y agoAnd that source is Ron Paul's think tank
- aww_dang 4y agoMisattributing a source is not the same as engaging in a discussion. It isn't a substantive reply or even tangentially related to the topic. Furthermore, I have a bridge to sell you if you believe that central bank apologists do not have an "agenda". Evaluating the argument on the merits solves all of this.