Saturday, November 15, 2008

The Surest Path Back to Prosperity: 'If you seek economic growth, social justice and human dignity, the free-market system is the way to go.'

we must recognize that government intervention is not a cure-all. For example, some blame the crisis on insufficient regulation of the American mortgage market. But many European countries had much more extensive regulations, and still experienced problems almost identical to our own.

History has shown that the greater threat to economic prosperity is not too little government involvement in the market, it is too much government involvement in the market. We saw this in the case of Fannie Mae and Freddie Mac.

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