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You can assert that the government "has to" do these things, but I do not believe you can substantiate that point. I don't think NNT can prove that things would
by javascriptlol 15y ago
You can assert that the government "has to" do these things, but I do not believe you can substantiate that point. I don't think NNT can prove that things would be better without government intervention, either. However, there is an important general point here about kinds of fragility that are being built into society. I think it will (sadly) go ignored while people argue about fiat currency, quantitative easing and other magic cures.
- lutorm 15y agoHe's not arguing that "things would be better without government intervention". My impression was that his argument was that government shouldn't assume only the risks and not the profits. Quoting from the article: "Whatever may need to be bailed out should be nationalised; whatever does not need a bail-out should be free, small and riskbearing."