Corrente

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What planet does Greg Mankiw live on?

Not planet Earth:

I certainly do not want the government deciding who deserves credit and who does not, what kind of investments are worthy of financing and what kind are not. That is a big step toward crony capitalism, where the politically connected get the goodies, and economic stagnation awaits the rest of us.

Last I checked, real wages have been flat for thirty years, and the average American is poorer today than in 2001. Meanwhile, Hank Paulson hands his golfing buddies two trillion dollars, and we still don't know where it went. And it looks like the Pentagon looted their own billions from Iraq. And that's before we get Halliburton.

How is that different from "crony capitalism, where the politically connected get the goodies, and economic stagnation awaits the rest of us"?

NOTE Via Yves.

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Damon's picture
Submitted by Damon on

At least he didn't rehash the zombie "socialism" meme. Conservatives really don't have a natural irony meter, do they?

dr sardonicus's picture
Submitted by dr sardonicus on

As you move up the ladder, the old saw, "It's not what you know, it's who you know" becomes more relevant, not less...