Good article. It saddens me that people need a global economic crisis to understand that Laissez-faire capitalism is a self-destructive ideology (especially considering that we almost crashed in 1900 and we did crash in 1929.) Historically conservative economic policy has always led to volatile economies, let me lay out a timeline.
1860-1900 Industrialization occurs and conservative politicians allow corporations to act however they want resulting in enormous corruption, exploitation of laborers, and numerous health concerns for all citizens consumers and workers alike
1900-1920 Progressives set boundaries for corporations improving the living and working conditions for most americans. Enormous strides are made to reel in dominant destructive corporations.
1920-1929 In the light of the WWI success and the economic improvement Harding, Coolidge, and Hoover dial back restrictions on the market resulting in the crippling market crash
1932-1970 (?) FDR liberalism combined with the WWII boom brings the american economy into full swing.
1970-Present Conservatives repeal regulation and cause another crash
This pattern to me seems undeniable. Market runs wild, liberals reel it in, market improves, conservatives let it free, market crashes, and repeat. This has happened so many times in american history that it blows my mind that people haven't figured it out yet. If you let the markets run wild they will **** in up. For now I guess we can just hope for an era of Obama-inspired liberalism, at least until people forget that the conservatives screwed up the economy.
