Tuesday, September 30, 2008
This blog is named policy economics, and it is very interestind(and somewhat disturbing) that the policies we are trying to use and implement to make up mfor past mistakes are going to be devestating. This is a very good example of how intervention fails. The governement and financial sectors have been making loans and insuring them to people who are not actually qualified for these loans. This has obviously been a major reason for the gigantic financial crisis and the bailout plan that was proposed. The dow stock market wenbt down 778 points in one day due to these things. Our economy is in crisis right now and its because the governement intervened when it should not. If this is not a very obvious reason that binterventionism is terrible I dont know what would be.