Column mistaken in portraying 'free market'

July 10, 2013 

Mr. Mark Weisbrot's opinion column in the July 7 Herald ("Unfettering business will keep U.S. mired in recession") shows him to be frighteningly out of touch with reality. To completely deny the disastrous effect government mandates and interference with free markets has had on the economy is astounding.

He attributes the housing bubble that burst solely to the private sector when it has been well-documented that the misguided easy money policies promoted by Barney Frank and Dick Durban and backed by the government caused money to be loaned to people incapable of repaying their mortgages and thereby placed so much stress on the mortgage holders that the bubble burst.

The banks are complicit for going along with this outrageous scheme, but they are certainly not solely responsible.

Government stimulus did help things to level out after the bubble burst, but after that, government should have backed off. Instead, the Obama administration continued to meddle in the economy.

Finally, he says that conservatives support intrusive government intervention into free markets because it tends to re-distribute income toward the rich (thank you, Karl Marx) and states that such things as protecting patents and copyrights, helping creditors collect debts and negotiating "free trade" agreements only place a bigger burden on working people and not highly-paid professionals. Seems to me that the Clinton administration favored the biggest "free trade" agreement in history (NAFTA).

He must be on the needle to actually believe that conservatives and business people who make profit only when the greatest number of people buy their products and services would in any way make it harder for average people to be able to afford the goods and services their businesses provide.

Government has its place, as defined by the Constitution, but more of its inefficiency, waste, corruption and intrusion is not needed.

Donald Doherty

Bradenton

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