Monday, December 22, 2008

Bush: Kudos on Executing a Defective Theory

As a footnote to my Lessons from The Wire post, I wanted to mention that, oh yeah, deregulation has helped to totally mess up the economy, as The New York Times pointed out so well yesterday. The Huffington Post sums it up much better than I can:

...But while Laissez-faire capitalism has been a monumental failure in practice, and soundly defeated at the polls, the ideology is still alive and kicking....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.... Communism didn't fail because Soviet leaders didn't execute it well enough. Same with free market fundamentalism. In fact, Bush and his team did a bang-up job executing a defective theory. The problem wasn't just the bathwater; the baby itself is rotten to the core.

Could someone, please, give me just one example in which deregulation has helped anyone other than the big businesses who profit from it?