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September 19, 2007

Greenspan

-- by Dave Johnson

A great post by Susie, Suburban Guerrilla: Greenspan Shrugged in which she points out that Greenspan was a nut case libertarian who believed things like the following,

"In an article published in 1963 as part of Ayn Rand’s book Capitalism: The Unknown Ideal, Greenspan declared that protection of the consumer against “dishonest and unscrupulous business was the cardinal ingredient of welfare statism.”

“Regulation which is based on force and fear undermines the moral base of business dealings,” he wrote. “Protection of the consumer by regulation … is illusory.”

Got that? Protecting consumers from "dishonest and unscrupulous business" is a bad thing.

Go read.

Posted by Dave Johnson at September 19, 2007 6:13 PM

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