Darwin's Theories Blog

New Theories for a New Time

An Open Letter to my Friends on the Left

2008-10-01
I wanted to write such a thing, but Steven Horwitz beat me to it.
Reply from Lak at 2008-10-01 15:04:06.669

In the interest of fairness, the rejoinder to Steve Horwitz' argument that Freddie, Fannie and CRA i.e. government regulations were to blame:

http://yglesias.thinkprogress.org/archives/2008/10/causes_and_instruments.php

Reply from Ian Darwin at 2008-10-01 17:04:43.155

Hey Lak, thanks for following up. Note that the piece you're citing isn't a direct response to Horwitz, and doesn't really answer his arguments (which are pretty long :-)). Horwitz' article isn't so much about assigning blame (he blames both of the bloated parties) as about working together to prevent future recurrences of overregulation and unintended consequences such as the mortgage bubble burst when good people with good intentions start from the wrong premises.