December 31, 2007
Count the cliches!

Peter Goodman at the NYT thinks the free market is a false idol. Ho hum.

Here's a game to play: Count the cliches in his piece. E.g.,

Throughout history, regulation has tended to gain favor on the heels of free enterprise run amok."

Man if this is the best argument the NYT can conjure up against the free market, then we free market supporters have nothing to worry about.

UPDATE: A commenter, Ryan, writes in:

Considering the article you cite in the NY Times, I guess those who distrust the unfettered free market are watching too much "Bruce Almighty". Remember, his problem was that he could not answer the prayers the old-fashioned way, so he directed them to e-mail or the internet. Since this technology is available, should those who want the command economy be available by way of e-mail when the rest of us want to make an economic decision? Should I e-mail Jared Bernstein every time I go to Walmart? (I use him since he was quoted in the article.) Would he know if I should buy a half gallon of milk or a whole gallon of milk? Swiss or provolone? Old Milwaukee or Great Lakes Beer? Oh the questions? Woe is me who does not know how to make economic decisions for myself. A poor commoner am I.
Posted by Robert Lawson at 10:04 AM in Economics

The statesman who should attempt to direct private people in what manner they ought to employ their capitals would not only load himself with a most unnecessary attention, but assume an authority which could safely be trusted, not only to no single person, but to no council or senate whatever, and which would nowhere be so dangerous as in the hands of a man who had folly and presumption enough to fancy himself fit to exercise it. -Adam Smith

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