moldybluecheesecurds 2

Wednesday, February 11, 2009

Lemon socialism

When the federal government considers a bold action into the market, there's an oft-heard complaint of "socialism."  Here's something worse: when government intervenes in a market such that the taxpayers get the risk and the capitalists get the benefits. 

Sound like a bum deal? 

Paul Krugman thinks he's hearing a lot of "lemon socialist" commentary from the Obama administration. 

Question: what happens if you lose vast amounts of other people’s money? Answer: you get a big gift from the federal government — but the president says some very harsh things about you before forking over the cash.

C'mon, I voted for change!

No comments: