Depressed Metabolism

You are browsing the archives of "Financial Crisis."

In a recent opinion piece for Forbes, legal scholar Richard A. Epstein draws attention to the political philosophical aspects of the financial meltdown:
Fannie and Freddie didn’t design their horrific lending policies by chance. No, behind this lending fiasco lay the strong collective preference for the “patterned principles” of justice that Robert Nozick attacked so powerfully [...]

All politics is redistributive. Although this is often hidden from view through appeals to the social contract, democracy, and the common good, the recent attempts to reward unsound business practices with taxpayers’ money make even the most sophisticated appeal to the “common good” look suspicious. Although advocates of liberty have offered persuasive accounts about the [...]