dagblog - Comments for "Having an FDR Christmas"

Of course it can tilt too far

Doctor Cleveland — Wed, 16 Dec 2009 22:09:08 +0000

Of course it can tilt too far in one direction. And the liberalism of 1933 isn't a perfect political philosophy.

But we're in no danger of tilting too far. Indeed, our national discourse is on constant guard against going too far in the dangerous direction of liberalism. But the excess of free-market ideology, an essentially mystical and innumerate reading of Adam Smith, is still very much with s.

I'm not talking about a 60% tax bracket, or even a 50% bracket. I'm talking about taxes at historic lows. Sure, if taxes get too high, they depress investment. But we are in no meaningful danger of that. But all we hear about from the Eric Cantors of the world is cutting the capital gains tax. But cutting those won't work if there's nothing reasonable to invest in.

Can one over-regulate banks? Sure. Are we in any danger of that? No. Our banks are still excessively deregulated. We're in no danger of going too far down the liberal road. We're in danger of not getting both feet on it in time.

very good post. but let's

Deadman — Sat, 12 Dec 2009 07:57:22 +0000

In reply to Having an FDR Christmas

very good post. but let's just be cognizant that one good, sensible reform doesn't necessarily mean they're all good. social safety nets are important, ones that bring stability and reassurance to what is at its core a hard-to-grasp fiat currency system which thrives on credit even more so, but that doesn't mean that liberalism has all the answers or that the scale can't easily tilt too far in one direction.

Thanks, very much, Genghis. I

Doctor Cleveland — Wed, 09 Dec 2009 19:10:13 +0000

In reply to I have nothing intelligent to

Thanks, very much, Genghis. I value your opinion very much.

I have nothing intelligent to

Michael Wolraich — Wed, 09 Dec 2009 18:40:42 +0000

In reply to Having an FDR Christmas

I have nothing intelligent to add. Just wanted to say that this is a great post. You have a great ability to sweep away the clamor to reveal fundamental truths.