Quarta-feira, Outubro 26, 2011

Vaticano vs. Subsidiariedade (2)

No seguimento de Vaticano vs. Subsidiariedade por Thomas E. Woods, Jr.:
Had we really been engaged in "idolatry of the market," as the Vatican document suggests, we might have listened to the market. Instead, the central authorities drowned out what the market was trying to tell us.

It’s been idolatry not of the market but of central banks, institutionalized sources of moral hazard and financial instability around the world, that has yielded us the boom-bust cycle .. There is no repealed regulation that would have prevented the crisis consuming the world right now.
The present malaise, therefore .. calls for a serious moral and economic reevaluation of institutions, among them central banking and fiat money, that we have long taken for granted, and in support of which all manner of historical and theoretical fallacies have taken widespread root.

The last thing we need is a larger, more centralized version of what we have now. Our problem isn’t greedy people or bad personnel. Every society and every period of world history have had those. The problem is the system itself.
An excellent moral case can be made for a genuinely free economy, one not subject to the cronyism and manipulation at the heart of the present system.

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