ace, take the most notoriously loathsome/controversial politicians in Canada on both the federal and provincial levels. Those are neoliberals. These are the politicians who do things like lower taxes and pay for it by dismantling healthcare and education, among other things.
If the "real problem" is an operational mixed economy over a conceptual free-market economy, then I suppose it's a problem in that it tends to get in the way of the desires of those who dream of a Friedmanesque utopia. Beyond that, I don't see how a mixed economy is any more problematic than unstable alternatives considered and even attempted via economic experimentation.
---------- Post added at 12:26 PM ---------- Previous post was at 12:18 PM ----------
Quote:
Originally Posted by aceventura3
The housing contraction was the result the excessive speculation in the highly leveraged derivatives market. so from the beginning his premise is incorrect. And to blame the crisis on capitalism is also incorrect. The problem is with a select few trying to micromanage markets and the economy.
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You're ignoring a number of other factors that made for this perfect storm. Speculation and the policies of government and central banks are only a few of several factors, and their level of impact is debatable. If you're going to correct a premise, you might want to be more comprehensive.