The End Of Free-Market Fundamentalism
The focus of this blog is relationship between technology and politics, culture, and education. However, it is difficult not to comment on the incredible paradigm shifts that we are bearing witness to right now. One of the biggest and most under discussed is the end of Free-Market Fundamentalism. It ended when the government began bailing out Fanny Mae and Freddy Mac, AIG, and now the passage of the TARP proposal of $700 Billion for Wallstreet. The American government might even start buying equity stakes in Banks.
When considered as whole there has never been a bigger act of socialism in American history. Tax payer money is being applied to the problem as if were a defibrillator. Will be paid back? How much health care could have been paid for with this money? While those greedy individuals responsible ever be held accountable?
Here's a great video that highlights talks by economists on the end of Free-Market Fundamentalism.