Thursday, 22 October 2009

From Ayn Rand to Antitrust - Alan Greenspan's Remarkable Journey to Enlightenment

Will miracles never cease? Alan Greenspan, Ayn Rand "devotee" and former advocate of laissez-faire capitalism, now favours aggressive antitrust! "Break up the big banks," he says.

“If they’re too big to fail, they’re too big,” Mr. Greenspan said. “In 1911 we broke up Standard Oil — so what happened? The individual parts became more valuable than the whole. Maybe that’s what we need to do.”

Yes, yes, yes, yes, yes!

I must say it's very flattering when a major public figure reverses position to agree with you! It also invites contempt for the public figure in question.

Is the Australian government listening? We need a Ten Pillars Policy, Mr Rudd.

No comments: