Project for Philosophical Evaluations of the Economy |
__________________________________________________________________________________________
A Systemic Risk in Standard Free Market Philosophy
Open Questions one day after the Bailout Hearing in the US Senate, drafted and published on Sept.
24, 2008
-----------------------------------------------------------------------------------------------------------------------------------------
Open Questions one day after the Bailout Hearing in the US Senate, drafted and published on Sept.
24, 2008
-----------------------------------------------------------------------------------------------------------------------------------------
- How balanced is a free market that would cry foul if the government were to intervene when stocks reach
their next exuberant hight that sees it as perfectly legitimate though that this government should intervene
when the earlier exuberance ends in a sobbing hangover?
- How sane is a free market that does not want to experience its own correction head on but instead prefers
to have the effects of that correction cushioned and attenuated by outside governmental action?
- How measured and adequate can the future reality and risk assessment of free market participants be that
do not want to experience a correction in a direct and unfiltered way but much rather want to minimize the
pain that their own past mistakes have caused?
- How healthy can a free market be that instead of letting mistakes correct itself in a free and unhampered
manner prefers to cure the symptoms of that necessary correction by taking an unprecedented amount of
steroids?
- How realistic can a free market philosophy be that theoretically demands of its politicians a near-suicidal
anti-interventionist backbone in order to keep the prospects for the system’s future reasonableness intact?
- How stable, reliable and promising can a free market system be that it makes next to impossible for its
followers to be consistent with their own beliefs?
| © Landei Selbstverlag, owned by Wilhelm ("Wil") Leonards, Gerolstein, Germany. All rights reserved. Reminder: Noah denkt™ is a project of Wilhelm ("Wil") Leonards and his Landei Selbstverlag (WL & his LSV). Consequently, all rights to the texts that have been published under the Noah denkt™brand name are reserved by WL & his LSV. The commentary and the reasoning that was provided on this page is for informational and/or educational purposes only and it is not intended to provide tax, legal or investment advice. It should therefore not be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security or any issuer by WL & his LSV or its Noah denkt™ Project. In fact, WL & his LSV encourage the user to understand that he alone is responsible for determining whether any investment, security or strategy is appropriate or suitable for him. And to leave no doubt as to what this means we urge our user to also note our extended Legal Notice. |
__________________________________________________________________________________________