Monday, December 22, 2008

Huffington, free market capitalism expert

Arianna Huffington has a piece on Real Clear Politics in which she claims that free market capitalism, or laissez-faire capitalism, is dead. It "has been a monumental failure in practice, and soundly defeated at the polls," she says. "It's time to drive the final nail into the coffin of laissez-faire capitalism by treating it like the discredited ideology it inarguably is."

Huffington quotes Senator John Ensign, Governor Mark Sanford, Al Hubbard, Alan Greenspan, and William Seidman but primarily she seems to rely on a New York Times article published December 20th which blames the Bush presidency for nearly everything. 

Huffington offers no specifics. She doesn't identify what it is she finds objectionable about free market capitalism. She has no suggestions about how to replace free market capitalism or what should replace it. Her only suggestion is to scrap it. It isn't arguable, she says. 

That doesn't help much.

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