By Ray LeMoine

Adding: “Many economists are asking whether it remains a free market if the government is so deeply enmeshed in the financial system.”

Right now, the federal government owns partial stakes in America’s banks (though it’s still under negotiation), the insurance industry, the two biggest housing lenders’ “mortgage backed securities,” and has engineered the dissolution of traditional investment banking. And socialism is  “a broad set of economic theories of social organization advocating state or collective ownership”. What exactly are economists asking about? Yes, Republican administration has effectively nationalized ourfreest markets. The question mark on the end of the Washington Post headline above should be erased.

Advertisements