Like I say, the story itself is pretty simple. But I have rarely run across--how shall I put this?--so fact-dense a book. If you pull quotes from the book, you are almost inevitably going to find that you need to quote something else explaining some term or some bit of history. It's hard to review a book like that in any detail, so I'm going to just point out one thing and give you one quote.
Ever since President Obama--and yes, this book will give you some interesting information on just what being a
Well, the people that started the problems that caused that financial meltdown were prone to the same sort of thinking. Many of them started out saying, "I just don't see what you could possibly have against us helping poor people get mortgages! I mean, wouldn't that be tragic if we did that!"
Well, it did turn out to be tragic--ironically most hurting, as liberal social and financial policies usually do, the very people that were supposed to be helped. And the health care fiasco, which, I assure you, is not dead, but only sleeping, will do the same thing. So will "green energy." If you have not previously understood how this sort of thing works, Architects of Ruin will go a long way to helping you understand. It's only 184 pages; you can almost certainly check it out of your local library.
Go get it. Your time won't be wasted.
The quote? It's this, which I wish everyone, conservative or liberal, would take to heart, for too few understand it:
It's important here to draw a critical distinction: there is an enormous difference between being probusiness and pro-free market. The former position, which the Clinton administration embraced, is concerned primarily with the health of large businesses, in this case the big financial houses. Being pro-free market means being concerned with the health of the capitalist system as a whole and its underlying principles of profit and loss, risk and reward.Too few putative conservatives understand this, too. Too many of them assume that what's good for business--and they often mean corporate giants--is good for America. What they often fail to appreciate is that there is more than one way to get, or to stay, big. A business may get or stay big by efficiently serving the needs or desires of many people. They may also--sometimes--get or--more often--stay big by working to rig the system by actually trying to make their field more regulated (so as to freeze out smaller competitors) or rigging the tax system, or, as in the case of some of these big financial houses, accepting a horrid alliance with government that leads to foolish risks being taken on the assumption that government will bail them out when the risks prove fatal.
That's not capitalism anymore.