Western Standard

The Shotgun Blog

« What killed the Harper government? | Main | Conservatives launch radio ads »

Tuesday, December 02, 2008

Not all politicians support bailouts

Two Governors of American States wrote an op-ed in the Wall Street Journal. Governor Rick Perry of Texas and Governor Mark Sanford of South Carolina both oppose bailouts.

An excerpt:

In a free-market system, competition and one's own personal stake motivate people to do their best. In this process, the winners create wealth, jobs and new investment, while others go back to the drawing board better prepared to try again.

To an unprecedented degree, government is currently picking winners and losers in the private marketplace, and throwing good money after bad. A prudent investor takes money from low-yield investments and puts them in those that yield better returns. Recent government intervention is doing the opposite -- taking capital generated from productive activities and throwing it at enterprises that in many cases need to reorganize their business model.

Posted by Hugh MacIntyre on December 2, 2008 in Economic freedom | Permalink


TrackBack URL for this entry:

Listed below are links to weblogs that reference Not all politicians support bailouts:


The comments to this entry are closed.