USA Today: “Occupiers” should look beyond Wall Street

In a brilliant “Opposing view” piece in USA Today (read it–it’s really short), Competitive Enterprise Institute founder and president Fred Smith hits the big nail on the head:

The problems we face come not from capitalism, Wall Street variety or any other, but rather from crony-capitalism.

As he points out throughout the piece, the “Occupiers” are idiots for thinking the answer to Wall street “Capitalist” excess–which was caused by government intervention in the first place–is more government.

The inmates are running the asylum.

You need look no further than Solyndra to see that it doesn’t matter which side is in power, when government steps in to mis-allocate capital and play favorites–and when business starts to rely on government incentives/coercion rather than innovation or providing good products and services through hard work–they benefit and the rest of us get screwed. Government bureaucrats and politicians are the biggest cronies on the face of the earth.

It’s like every day’s headlines are being lifted straight from the pages of Ayn Rand’s Atlas Shrugged…

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s