I feel sorry for the next president, who will undoubtedly be blamed for the economy's continuing to plummet, much like Hoover was blamed for the disastrous economic policies of Harding and Coolidge (that "whoosh" you just heard was the reference's going over the heads of those whose idea of "history" is, "who won last week's American Idol).

This is why a knowledge of history is important; if the Republicans hadn't been so eager to dismantle the regulatory safeguards that were put into place in 1929, we'd be in better (or at least "less bad") shape now, and if they'd been more successful in repealing them, we'd be even worse off.

When conservatives start advocating deregulation and privatization, a cursory knowledge of history would tell them that the reason things like roads, the postal service, etc. were put under government control was that they were originally private -- and it didn't work.

With so many economists telling us that this is the worst economic disaster since 1929, perhaps we should ask ourselves, "Which candidate's views are more like FDR's?

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Comment by Jeffrey E. Salzberg on September 22, 2008 at 6:52pm
Conservatives forget that government regulation is not the only thing that constrains trade; it's also constrained by industry collusion.

...And the only thing that can prevent industry collusion is regulation.
Comment by Rick Hughes on September 22, 2008 at 6:36pm
GO Obama!

There is certainly nothing wrong with profit and capitalism. But those who think a free market economy will always provides its own checks and balances and corrections forgot one important factor that dooms it from the start: human beings. Greed, while a good motivator, if left unchecked leads to runaway manipulation of the the masses, the Ford Pinto, poisons in our food, bridges to nowhere, no-bid government contracts, a chicken in every politician and a lobbyist in every garage. We the people need to start thinking of others instead of the new mantra "ME the people."
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