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Elizabeth Warren's Dirigiste Plan for Wall Street danieljmitchell.wordpress.com/2019/07/19/eli… via @wordpressdotcom
I prefer competitive markets, which reward decisions that make us more prosperous.
The socialists, by contrast, think government can directly control how capital is allocated. At the risk of understatement, that approach doesn’t have a good track record.
The socialists, by contrast, think government can directly control how capital is allocated. At the risk of understatement, that approach doesn’t have a good track record.
Elizabeth Warren prefers an indirect approach, which involves lots of regulation, taxation, red tape, and intervention. This cronyist approach also is misguided.
Her corporatist agenda unavoidably will hinder the efficient (i.e., growth maximizing) allocation of capital and also reduce the overall level of saving and investment.
And that translates into less income for workers.
By the way, my disagreement with Sen. Warren’s policy agenda does not mean I have a pro-Wall Street perspective.
By the way, my disagreement with Sen. Warren’s policy agenda does not mean I have a pro-Wall Street perspective.
In the past, I opposed the TARP bailout and the Dodd-Frank regulatory expansion, both of which were supported by the big players on Wall Street.
And I currently oppose the Fed’s easy-money policy and also want to remove the tax code’s preference for debt, which again puts me on the other side from the big players on Wall Street.
The bottom line: I support economic liberty, not big business.
The bottom line: I support economic liberty, not big business.
