{"id":665,"date":"2008-09-23T23:10:38","date_gmt":"2008-09-24T04:10:38","guid":{"rendered":"http:\/\/www.joewhite.com\/?p=665"},"modified":"2008-09-23T23:10:40","modified_gmt":"2008-09-24T04:10:40","slug":"no-atheists-in-foxholes-no-libertarians-in-financial-crises","status":"publish","type":"post","link":"https:\/\/www.joewhite.com\/ramble\/2008\/09\/no-atheists-in-foxholes-no-libertarians-in-financial-crises\/","title":{"rendered":"&#8220;No Atheists in Foxholes, No Libertarians in Financial Crises&#8221;"},"content":{"rendered":"<p><a href=\"http:\/\/austrianeconomists.typepad.com\/weblog\/2008\/09\/no-atheists-in.html\">No Atheists in Foxholes, No Libertarians in Financial Crises<\/a>:<\/p>\n<blockquote><p>This is the line that Paul Krugman uttered the other night to some great yucks from the <a href=\"http:\/\/www.youtube.com\/watch?v=FKMy8pf9qY8\">Bill Maher crowd<\/a>.<\/p>\n<p>Not really an original thought for Krugman &#8212; see <a href=\"http:\/\/content.ksg.harvard.edu\/blog\/jeff_frankels_weblog\/2008\/07\/17\/%E2%80%9Cno-atheists-in-foxholes%E2%80%9D-no-libertarians-in-financial-crises\/\">Jeff Frankel&#8217;s remarks from last July<\/a>.<\/p>\n<p>Krugman in typical fashion communicates his point in a smug fashion and implies that only someone completely bonkers would maintain a libertarian stance.&#38;nbsp; But the reason we are in this mess to begin with is because we weren&#8217;t bonkers enough to pursue libertarian economic policies.&#38;nbsp; Instead, statist intervention in financial markets has been pursued for decades.&#38;nbsp; Government policies that privatized profits, but socialized losses; easy credit monetary policy; regulations which favored some groups at the expense of others, etc. all created our current mess.&#38;nbsp; NOT free markets, and only free markets will permit the adjustments to economic realities that are required to get the market economy back on-track.<\/p>\n<p>I don&#8217;t know about atheists in foxholes, but I do know that only economic libertarianism can get us out of the mess of political capitalism we are currently in.&#38;nbsp; To argue otherwise, as Krugman and his crowd do, not only belies a fundamental lack of economic understanding, but an innocence of public choice.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>No Atheists in Foxholes, No Libertarians in Financial Crises: This is the line that Paul Krugman uttered the other night to some great yucks from<\/p>\n","protected":false},"author":647,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[],"class_list":["post-665","post","type-post","status-publish","format-standard","hentry","category-random-news"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pekNN-aJ","_links":{"self":[{"href":"https:\/\/www.joewhite.com\/ramble\/wp-json\/wp\/v2\/posts\/665","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.joewhite.com\/ramble\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.joewhite.com\/ramble\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.joewhite.com\/ramble\/wp-json\/wp\/v2\/users\/647"}],"replies":[{"embeddable":true,"href":"https:\/\/www.joewhite.com\/ramble\/wp-json\/wp\/v2\/comments?post=665"}],"version-history":[{"count":0,"href":"https:\/\/www.joewhite.com\/ramble\/wp-json\/wp\/v2\/posts\/665\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.joewhite.com\/ramble\/wp-json\/wp\/v2\/media?parent=665"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.joewhite.com\/ramble\/wp-json\/wp\/v2\/categories?post=665"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.joewhite.com\/ramble\/wp-json\/wp\/v2\/tags?post=665"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}