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TheDC: There is an argument on the left that says in order to overcome an economic crisis, the government must spend more. Is this the case? How should we rehabilitate the economy?TS: We shouldn’t be rehabilitating the economy, we should be leaving the economy alone. History shows it rehabilitates itself much faster than when the politicians intervene. Most people are unaware that for more than a century after the founding of this country, the federal government did not consider it its job to intervene when there was a downturn in the economy. Those downturns ended much faster than the downturns where the government intervened.Read more: http://dailycaller.com/2011/01/24/thomas-sowell-speaks-to-thedc-about-the-financial-crisis-health-care-and-his-ideological-transformation-from-marxism-to-conservatism/#ixzz1Kxo1N6mv
TheDC: There is an argument on the left that says in order to overcome an economic crisis, the government must spend more. Is this the case? How should we rehabilitate the economy?
TS: We shouldn’t be rehabilitating the economy, we should be leaving the economy alone. History shows it rehabilitates itself much faster than when the politicians intervene. Most people are unaware that for more than a century after the founding of this country, the federal government did not consider it its job to intervene when there was a downturn in the economy. Those downturns ended much faster than the downturns where the government intervened.
Read more: http://dailycaller.com/2011/01/24/thomas-sowell-speaks-to-thedc-about-the-financial-crisis-health-care-and-his-ideological-transformation-from-marxism-to-conservatism/#ixzz1Kxo1N6mv
