Jump To » Mobile / Confirm Them / Right Shelf / Sports / State Blogs / About / Contact / Help / Posting Rules / Conservative Book Club / Human Events
Revealing Passage Of The Day
Gaffes, They Say, Occur When The Truth Is Inadvertently Revealed
By Pejman Yousefzadeh Posted in Economy | Featured Stories — Comments (1) / Email this page » / Leave a comment »
From this story, concerning Robert Zoellick's nomination to head the World Bank. I'll just let the excerpt speak for itself:
There are some at the World Bank, many bank officials say, who may resist a bias toward encouraging free-market economies, especially at a time when faith in that philosophy has faded in Latin America and elsewhere. But bank officials said they would welcome a new president with knowledge in this area.
"A lot of people used to think that if the Democrats win the White House in 2008, we might get a new president who won't be pursing free markets and corruption," said one bank official, who spoke on condition of anonymity. "But most people at the bank also realize that reform is necessary."
Hand in hand? Not so long ago this comment would have seemed like a window into the lazy mind that conceived it.
I understand that a free market can get out of hand in all the same ways as any other system can without the strong rule of law. But a free market has to have a strong rule of law to be successful by it's very nature. At least the kind of laws that will accommodate a free market as well as control it's negative effects if left unchecked. A FREE market is usually associated with FREEdom, of which I think highly.
However, after seeing the effects of the free market for cheap labor, and how it has corrupted the current goverment in the U.S., I suppose I can look on the anonymous bank official with less disdain.
Now that I think about it, the current condition in the U.S. labor maket came about because the rule of law has failed. OK, my disdain is back.