Tuesday, February 10, 2009

Doing Nothing instead of Something

I listened to Obama's first press conference last night. As usual, his rhetoric sounds great. What a change from Bush! However, I question the logic of his philosophy that doing nothing is worse than doing something when it comes to our present economic problems. Doing the wrong thing is generally worse than doing nothing at all. This is *frequently* the case with government.

The examples of unintended consequences from government doing what appeared to be right, but what is discovered to be wrong in retrospect are legion. History is littered with such examples. If my government cannot properly inspect peanuts, why should I believe they can fix something as complex as the economy?

I read Adam Smith in college. I believe in the "invisible hand" of the free market. There are economic schools of thought that believe on good evidence that what FDR did prolonged the Great Depression. The New New Deal with Obama looks like an example of "those who don't learn from history are doomed to repeat it." If you disagree, I'd like to hear why.

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