How Intellectuals Betrayed the Poor

http://bit.ly/if0Jax - For 40 years academics were duped into idolizing the idea of unfettered markets, says Cornel West, and now our society is paying a terrible price.

Category:

Science & Technology

Tags:

• bigthink

[chipk77]

@Phalanx3800 I agree...

[Phalanx3800]

@chipk77 Corporate bailouts, bank bailouts, agricultural subsidies, all forms of welfare would not have ever existed if we had unfettered markets.

[chipk77]

@johnnyappleseedism I did. "We've never had unfettered markets" is an indisputable fact.

[johnnyappleseedism]

@zeppelin2224 he's not one to conform, so he might take being called insane as a compliment, as i would.

[johnnyappleseedism]

@chipk77 prove that with words like cornel is doing for his argument, instead of using bill o'reilly tactics, name calling instead of facts.

[chipk77]

We've never had unfettered markets. This guy is a fraud and a race baiter.

[zeppelin2224]

this guy is the most insane person i have ever had the displeasure of listening to.

[moonlightoracles]

@BelieversinThings

Business has infiltrated and permeated government policy, that you could hardly accuse government of being the source of all its troubles. Furthermore, if unregulated markets worked then what happened to Iceland with their broad neo-liberal market? Why does China continue to do so well, being inflicted hardly as bad as other Western countries, during our own contemporary market failure, when they have such a highly regulated financial institution?

[whiff1962]

"Deliberately engineered" by politicians who screamed for equal access to home loans! Not the banks grabbing the average Joe off the street, and holding a gun to his head. The housing loan meltdown was engendered by Wash. legislation and regulation, period. The banks had, and to this day, have no fear of failure, as they know that tax payer money will bail them out. The OWS gang didn't protest bailouts, they protested the "misappropriation" of bailout money. I say, no bailouts, at all!

[BelieversinThings]

Unfettered markets? The markets have steadily been more regulated since the sixties, not more free. Briefly in the eighties markets were freed up, which led to a recovery from the horrorshow of the 70's where the markets were heavily regulated. The market was then tampered with in the 90's making money artificially easier to borrow leading to the .com bubble, which should"ve burst, but the housing market was tampered with instead creating that boom and bust. This guy's a college proffessor?