{"id":193504,"date":"2008-12-11T00:15:00","date_gmt":"2008-12-11T05:15:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/12\/11\/joseph-e-stiglitz-on-free-market-evangelicals\/"},"modified":"2008-12-11T00:15:00","modified_gmt":"2008-12-11T05:15:00","slug":"joseph-e-stiglitz-on-free-market-evangelicals","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/12\/11\/joseph-e-stiglitz-on-free-market-evangelicals\/","title":{"rendered":"Joseph E. Stiglitz on Free Market Evangelicals"},"content":{"rendered":"<p>Read his article, and <a href=\"http:\/\/www.vanityfair.com\/magazine\/2009\/01\/stiglitz200901\">you will understand that this is not a failure of regulation or legislation, but one of world view<\/a>:<\/p>\n<blockquote style=\"color: rgb(0, 0, 153);\"><p>The truth is most of the individual mistakes boil down to just one: a belief that markets are self-adjusting and that the role of government should be minimal. Looking back at that belief during hearings this fall on Capitol Hill, Alan Greenspan said out loud, \u201cI have found a flaw.\u201d Congressman Henry Waxman pushed him, responding, \u201cIn other words, you found that your view of the world, your ideology, was not right; it was not working.\u201d \u201cAbsolutely, precisely,\u201d Greenspan said. The embrace by America\u2014and much of the rest of the world\u2014of this flawed economic philosophy made it inevitable that we would eventually arrive at the place we are today.<\/p><\/blockquote>\n<p>It&#8217;s also a <span style=\"font-weight: bold;\">very<\/span> entertaining read.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Read his article, and you will understand that this is not a failure of regulation or legislation, but one of world view: The truth is most of the individual mistakes boil down to just one: a belief that markets are self-adjusting and that the role of government should be minimal. Looking back at that belief &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[973,1002],"tags":[],"class_list":["post-193504","post","type-post","status-publish","format-standard","hentry","category-economy","category-good-writing"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/193504"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=193504"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/193504\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=193504"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=193504"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=193504"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}