Why Libertarianism Doesn’t Work, Part N - Paul Krugman Blog - NYTimes.com
You might have noticed this New York Times editorial by Paul Krugman. In it, he says that libertarianism doesn't work, and proves it by pointing to the ongoing BP oil spill.
So let me get this straight: liability caps, which are very un-libertarian, and incompetent regulatory bureaucracies, which are very un-libertarian, show us that libertarianism is...no good?
I think I've heard this one before. Didn't a lot of people point to the failures of the very heavily regulated banking system, and blame them on the free market?
It must be Opposite Day!
The folks at the Cato Institute have also commented on Mr. Krugman's remarks here and here.
This was published originally in the weekly Libertarian Party Monday message from Wes Benedict,Executive Director, Libertarian National Committee and I think he hits Krugman right right square on his pointy little head with his response.
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