Monday, November 7, 2011
Common ground on Wall Street
It turns out that the hippies of Occupy Wall Street have something in common with the editors of the Wall Street Journal. One of the demands of OWS (keeping in mind the difficulty in nailing down the substance of the protests) is an end to corporate welfare. I suspect that the protesters would be surprised to know that, on this point at least, they are aligned with free-market economists and the WSJ editors. Many people equate free-market economics with policies to help corporations, and business in general. This is a grossly mistaken view because a free marketeer does not necessarily favor business interests, although he or she is certainly not anti-business, or, for that matter, not anti any economic category.