Posts Tagged ‘economic crisis

21
Dec
08

Excellent article concerning current financial crisis.

This article examines the current crisis and speaks of the policies of a┬áhero of mine: Margaret Thatcher. Do some research on Britain’s economy right before her election. It was in a terrible state.

People point to the corruption that has in some instances exacerbated the current situation. To the finger-pointers, corruption is proof that less regulation doesn’t work. Foolishness. The very word corruption implies that officials were breaking some regulation, somewhere. Corruption ruins any system. Some systems promote corruption more than others. Check out the old Soviet regime for corruption of the highest order.

Bottom line: Socialism is a slippery slope. It cannot match production levels of low-regulated industrial states. Command economies cannot fill in the gaps needed to feed and employ high numbers of people.

Eleven years ago we rescued Britain from the parlous state to which socialism had brought it. Once again Britain stands tall in the councils of Europe and of the world. Over the last decade, we have given power back to the people on an unprecedented scale. We have given back control to people over their own lives and over their livelihoods, over the decisions that matter most to them and their families. We have done it by curbing the monopoly power of trade unions to control, even victimize the individual worker.”~ Margaret Thatcher, 1990.

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