November 14, 2008

"The Post Free-Market Era"

I keep reading articles about what Obama needs to do to fix the economy that seem to cite capitalism's obituary. I'm still a strong marketeer but perhaps I'm too stuck in the theory to accept the new state of the world. As far as capitalists go I've always leaned left, but been a capitalist nonetheless.

So my real question is, is this crisis a blow to the heart of capitalism? I know "the people" are calling for regulation left and right, but is this the sort of thing that has economists going "yeah, it's time to accept that markets need more regulation to function properly" or are they saying "this certainly isn't good but keeping markets free is the best way out"?

(And referring to an earlier grammar post, I am unapologetic about omitting the two pre-quotation-mark commas as well as putting my question mark outside the quotation mark.)

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