Friday, December 19, 2008

"I've abandoned free-market principles to save the free-market system"

US President George W. Bush said in an interview Tuesday he was forced to sacrifice free market principles to save the economy from "collapse."

"I've abandoned free-market principles to save the free-market system," Bush told CNN television, saying he had made the decision "to make sure the economy doesn't collapse."

Bush's comments reflect an extraordinary departure from his longtime advocacy for an unfettered free market, as his administration has orchestrated unprecedented government intervention in the face of a dire financial crisis.

Read the rest here.

2 comments:

Clumpy said...

Whatever happened to the cold "let the market decide" aspect of conservatism? Because if the decision now is between bailing out failed corporations and giving people money who need it, I'm pretty sure I know where I stand. (Actually, I knew where I stood the moment I realized neoconservatism had completely replaced conservatism in Washington.)

a very public sociologist said...

Lol, just goes to show principles are only expedient as far as the ruling class are concerned as long as they continue to underpin their rule. If Bush had stuck to hands off neoliberalism, there's no telling how bad things could be now. (Not that I'm backing him!)