<blockquote>Well, we’re three decades into an era of systemic deregulation and financialization. The result? Global recession, lingering structural unemployment, and an accumulation of capital at the top of the economic pyramid.</blockquote>
To blame systemic deregulation for the recession is to be profoundly unaware of the system in question. One cannot speak of a free market when the very thing at the core of that market - i.e. money, the one thing that everyone buys when they're selling something, and that everyone sells when they're buying something - is in the hands of a monopoly, and a politically motivated one at that: its raison d'etre is not even the quality of the product it provides.
If money were edible, you would see much more clearly just what a centrally managed, soviet style style system this really is, because there'd be queues of starving citizens just as we saw back in the era of soviet resource management.
If anything, it could be argued that without the level of free market we've enjoyed, things would be much, much worse. After all, the one sector where there's been close to zero regulation, the internet, has been the sector that's enjoyed massive growth over the last few decades. Compared to the days when telephony was state managed and nothing worked, we've been progressing in seven league boots, thanks to the free market.
To blame systemic deregulation for the recession is to be profoundly unaware of the system in question. One cannot speak of a free market when the very thing at the core of that market - i.e. money, the one thing that everyone buys when they're selling something, and that everyone sells when they're buying something - is in the hands of a monopoly, and a politically motivated one at that: its raison d'etre is not even the quality of the product it provides.
If money were edible, you would see much more clearly just what a centrally managed, soviet style style system this really is, because there'd be queues of starving citizens just as we saw back in the era of soviet resource management.
If anything, it could be argued that without the level of free market we've enjoyed, things would be much, much worse. After all, the one sector where there's been close to zero regulation, the internet, has been the sector that's enjoyed massive growth over the last few decades. Compared to the days when telephony was state managed and nothing worked, we've been progressing in seven league boots, thanks to the free market.
PS: how does one quote on HN?