The nation’s fourth biggest investment firm, Lehman Brothers, has gone under. This time a major economic player faced bankruptcy, no one bailed it out, not other banks, not foreign investors, and not the government. That is to say, this time the market is going to be allowed to work, including its important work of destroying failed businesses. What, though, will be the consequences?
Do you think all of these failures due mainly to the mortgage house of cards tumbling down means that we need to give up on free market economics in favor of a neo-Keynesian government regulation of the economy? Isn’t that where we are headed?
Ad-Free & Subscriber Log-In