States Visited

Friday, May 29, 2009

One of the Best?

The dog woke me up early this morning and I ended up (as usual) sitting at the computer reading. I happened upon the blog of Judge Richard Posner where he discusses and adds to his new book A Failure of Capitalism. Judge Posner sits on the U.S. Court of Appeals for the Seventh Circuit and is a lecturer at the University of Chicago Law School and is regarded as one of the best legal minds in the country.

In the second paragraph of the first blog post I read

I came across this gem -

"...capitalism and government cannot be separated. You cannot (here I part company with "anarcho-capitalists," such as David Friedman) have capitalism without a government, specifically a central bank with discretionary authority over the money supply and a regulatory regime for financial intermediation (banking in a broad sense)."

I would argue that not only has he "parted company" with the anarcho-capitalists but he's also parted company with logic, common sense, and any knowledge of history. My God. This is the man named as one of the best legal thinkers in the country? No wonder we are in this mess...

1 comment:

Jeff Border said...

Actually captialism and democracy don't mix very well. Democracy is designed to serve the collective. Meanwhile capitalism is designed to serve the self and individualism.