Capitalism unchained
Feb. 12th, 2009 09:28 amPolitical economic question of the day:
"Watching people blame the free market for the housing crisis is like watching the jocks that trip nerds in the hallway mock the nerds for their clumsiness. The commercial real-estate markets demonstrate what a nerd can do if left unmolested.
"Leftists have to answer a question: if greedy, irresponsible, unregulated etc. capitalism caused the housing bubble, why didn’t we see a similar bubble in commercial real-estate markets which operate under even less regulation than the residential markets? Why does the politically neglected and unregulated commercial real-estate market exhibit much milder swings?"
Discuss.
Source: http://chicagoboyz.net/archives/6775.html
"Watching people blame the free market for the housing crisis is like watching the jocks that trip nerds in the hallway mock the nerds for their clumsiness. The commercial real-estate markets demonstrate what a nerd can do if left unmolested.
"Leftists have to answer a question: if greedy, irresponsible, unregulated etc. capitalism caused the housing bubble, why didn’t we see a similar bubble in commercial real-estate markets which operate under even less regulation than the residential markets? Why does the politically neglected and unregulated commercial real-estate market exhibit much milder swings?"
--Shannon Love
Discuss.
Source: http://chicagoboyz.net/archives/6775.html