Friday, October 24, 2008

The invisible hand slaps Alan Greenspan

My following letter to the editor was printed in the Atlanta Journal-Constitution on Oct. 27
"Alan Greenspan was the midwife to our economic collapse. He was the free-market trophy wife of Congress.

And now he has been properly slapped by Adam Smith’s invisible hand for violating Smith’s tenets and those of Greenspan’s alleged mentor, Ayn Rand, who herself would’ve been appalled at Greenspan’s big-government matriculation.

Greenspan’s own admission that a good regulator can only be successful 60% of the time should undermine any utilitarian argument for regulators, but his pathetic figure will soon be forgotten, and Congress will return to tinker, tailor, soldier, pry.

What is needed in this perfect storm is a perfect philosophical girding and moral solution: A reading of Rand’s “Capitalism: The Unknown Ideal” by all members of Congress and all businesspeople and then the backbone to implement a complete and utterly free market, wherein the invisible hand KO’s the irrational and high-fives the rational.

Carpe diem."

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