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Free Market

A Credit Deficit or a Democratic Deficit?

Benjamin R. Barber | Posted 05.25.2011 | Politics
Benjamin R. Barber

The remedy today lies not simply in deleveraging but in re-democratizing -- recreate social capital and trust will follow. Then and only then will markets calm.

Milton Friedman Debate Continues To Roil University Of Chicago

Chi-Town Daily News | Peter Sachs | Posted 05.25.2011 | Chicago

The first faculty-wide senate meeting of its kind in 24 years could take place by the end of the year at the University of Chicago as a controversy co...

The Debt vs. Interest Rate Conundrum

Michael Pento | Posted 05.25.2011 | Business
Michael Pento

It now takes about 10 cents on every tax dollar collected just to pay the interest on the debt. As bad as that is, it's only because interest rates are at record lows that the debt is still manageable.

The Failure of the Free Market

Matthew Stein | Posted 05.25.2011 | Green
Matthew Stein

Why do we feel that we must leave our most important assets, the health and natural resources of our planet's ecosystems, up to this sacred cow called "The Free Market"?

Public Ownership -- But No Public Control

Robert Weissman | Posted 05.25.2011 | Business
Robert Weissman

It is a remarkable time. On Friday, the Washington Post ran a front-page story titled, "The End of American Capitalism?" Today, the banner headline is...

Who's To Blame?

Fortune's Stanley Bing | Posted 05.25.2011 | Business
<i>Fortune</i>'s Stanley Bing

I'm getting pretty sick of all attempts to complexify this question, so I'll lay it out for you right here. Who's to blame for this incredible mess? It's really clear.

America Needs Obama To Recreate Our National Narrative

John Rember | Posted 05.25.2011 | Home
John Rember

How to explain an administration that nationalizes the banking system even as it praises the free market? How to explain a financial system that turned debt into wealth, and wealth into debt? How is it that most people don't even know which country their house belongs to?

"Free Market?" R.I.P. and Good Riddance!

Warren Goldstein | Posted 05.25.2011 | Business
Warren Goldstein

Not only are there no "free markets" on Wall Street--there never have been. There have only been institutions and markets receiving varying degrees of protection from the mass of American citizens.

The Bailout Bill Passes Congress, President Signs the Legislation, and the World Is Saved. Not.

Patrick Takahashi | Posted 05.25.2011 | Green
Patrick Takahashi

We saw it when Reagan became president in the early '80s and a decade ago when the price of oil (in real dollars) hit an all-time low. Here we go, back to the past again. That's why it's ominous.

The Story of Silly George -- The King Who Believed in an Imaginary Magicfriendinthesky

Frank Schaeffer | Posted 05.25.2011 | Politics
Frank Schaeffer

You see, the silly prince's brain had quit working the same way that all people's brains quit working when they decide they've found One Truth that solves everything.

This is a Crisis -- But Also an Amazing Opportunity

Johann Hari | Posted 05.25.2011 | Politics
Johann Hari

Even if the bail-out finally goes ahead, credit is drying up; unemployment is sure to swell, along with all the rage and resentment it brings. So why am I feeling -- tentatively, terribly -- optimistic?

Republican "Workout" Is A Cop Out

Ron Grande | Posted 05.25.2011 | Home
Ron Grande

The House Republicans will be to blame for any calamities that may yet be in store for our economy. Their objection to the modified Paulson Plan was not ideological, it was political.

Some Administrations -- Not All -- Make Policy Decisions Based On Constitution

Sheila Suess Kennedy | Posted 05.25.2011 | Home
Sheila Suess Kennedy

As we prepare to choose a new president, we should look closely at the candidates' approach to our constitutional culture. It will tell us much more than the issue papers and campaign promises that are mainstays of electoral strategies.

The Moral Subtext of the Bailout Debate

Nathaniel Frank | Posted 05.25.2011 | Business
Nathaniel Frank

While trickle-down economics theory can be used to mask a raw power grab, it is also a philosophy of moral superiority which many conservatives have come to truly believe.

Obama's Opportunity

Stanley Kutler | Posted 05.25.2011 | Politics
Stanley Kutler

Obama has a chance to relieve us of the sheer, adulterated "free market" nonsense that has badly misgoverned this county.

Take A Deep Breath And Count To Three

Aaron Harber | Posted 05.25.2011 | Business
Aaron Harber

Congress and the current Administration have allowed the nation's finances to deteriorate to a dangerous level.

The Free Market is Like a Toddler

Philip Slater | Posted 05.25.2011 | Business
Philip Slater

The free market is energetic, yes, and creative, yes, and innovative, yes, but stupid. It will gamble its way into bankruptcy, poison its children, destroy its environment -- you can't take the kid anywhere.

Hank Paulson Should Call John Doerr

Adam Hanft | Posted 05.25.2011 | Business
Adam Hanft

More than Paulson, more than Bernanke, more than pretty much anyone in Washington I'd trust venture capitalist John Doerr to negotiate my stake in the bailout.

Read 'Em and Weep

Bob Ostertag | Posted 05.25.2011 | Business
Bob Ostertag

No one, not Bernanke, not Paulson, not anybody, knows if the bailout will work. It isn't that the details of the plan are wrong. It's that there are no details.

The Bailout Plan: Welcome to Economic Shock and Awe

Arianna Huffington | Posted 05.25.2011 | Politics
Arianna Huffington

In the battle over the proper role of government, the high priests of the church of the Free Market -- including Bush, Paulson, and the Masters of Wall Street -- have suffered a monumental defeat. So why are we allowing them to dictate the terms of their surrender?

McCain, Obama on Energy, the Environment and AIDS

Eliza Margarita Bates and Cara Zwerling | Posted 05.25.2011 | Home
Eliza Margarita Bates and Cara Zwerling

Over the course of this week, OffTheBus is running a primer on some of the most important foreign policy issues the next president will face. Today, the primer looks at where Obama and McCain stand on energy and environmental policy and the AIDS crisis.

Warning: Wrecking Crew at Work

Thomas Frank | Posted 05.25.2011 | Politics
Thomas Frank

The Interior Department's bungle-dee-botch is what government looks like when you make it "market-based," as Bush once put it. This kind of government answers not to the public but to the party with the most money.

Oil Execs to Congress: I Drink Your Milkshake

Chris Kelly | Posted 05.25.2011 | Politics
Chris Kelly

Supply and demand is one factor in determining price, but another factor used to be called "competition." Again, I'm not an economist, but I'm pretty sure that was supposed to drive prices down.