Wednesday, March 26, 2014
I believe profoundly in that our world is driven forward by the risk-takers operating in a free market. And as typical risk-adverse citizen it behooves me to fight for that to be happening.
And that is why even though I admire profoundly many free-market think tanks, their silence on two issues extremely important for me, drives me nut.
1st. I hate it that when free-market supporters imply that if only there was a free market supporter in charge of the government, he would be able to overcome the problems that the concentration of power in governments cause… like that of 98% of all my nation’s, Venezuela, exports going into the government coffers. That is intellectually dishonest of them!
2nd. I hate it when free-market supporters ignore the distortions in the allocation of credit to the real economy that risk-based capital requirements for banks produce, and have it in their minds, that someone should stop their banks from taking risks, so that their money is safe. That is also intellectually dishonest of them!