Posted on: 02/17/09:
A recent cover of Newsweek magazine reads “We Are All Socialist Now:” ; the latest cover of The Economist magazine reads “The Return of Economic Nationalism” the illustration on which has an arm reaching out of a grave surrounded by tombstones with inscriptions that refer to Protectionism and the Great Depression. The covers of the two periodicals have captured the fears of a great deal of discerning citizens, specifically regarding the role of government in the marketplace. As I pen this article our President is preparing to sign the American Recovery and Reinvestment Act, a Keynesian style economic strategy based in a conviction that only an active government response can reverse the consequences of predatory private sector decisions and thereby stabilize the economy. Accordingly advocates of this strategy have overwhelmed the public with urgent messages of the dire need for drastic government solutions to our current economic downturn.