Not All News Is Badby
Llewellyn H. Rockwell, Jr. The headlines say that a deal to bail out automakers stands little chance of success. One might hope that common sense alone would have killed it (it's never a good idea to throw good money at failing enterprises), but the Democrats are citing intense Republican opposition. So too for the "stimulus package" that contains a long list of bad ideas, almost like a recipe for prolonging the downturn: bailouts, welfare, unemployment subsidies, union privileges, and other devastating devices. Now the package is being considered largely dead. Already the Republicans are toughening up, seeing the light of day. After nearly a decade of signing off on horrible legislation and looking the other way as a Republican president chewed through our liberties, they are new converts to the cause of limiting the government because a Democrat will be president. At the same time, we are witnessing the disgusting spectacle of Bush lecturing us on the merits of the free market. After eight years of wars, the police state, bailouts, and regulations, he is newly concerned about his legacy, and so he is following the path of Hoover, who was horrible in office and better out of office. Thus is Bush, of all people, sounding like a champion of the free society. Already, you can see that the political constellation is lining up in a way that is more friendly to the cause of liberty. The Democrats are up to their old tricks, which are transparently dumb and dated. The Republicans are responding with smart and sound criticisms. The government looks poised for a fantastic gridlock that will let the liquidation take place so that we can move toward a good recovery. There is plenty to regret about Obama's victory, but the first impressions of the political dynamic that is playing out looks like it could mean good things for the future. I don't know if it is inspiring or just disgusting or what, but Bush's speech on Wall Street is worth quoting in full:
Bush isn't alone here. All the Republican leadership is sounding human again, making sensible points about the idea of a bailout of GM, Ford, Chrysler, and the UAW, and other pressure will follow.
So too with divided power in any government. They can and do logroll to each other's mutual benefit, but when that process breaks down, it is a glorious thing. Recent history suggests that the logrolling between power centers is least effective when the Republicans are in the minority and the Democrats hold the presidency. The Clinton years are a case in point. Spending rose very little. Warfare was curbed relative to the past and present. Deficits fell. The public sector shrank. This is the great hope of the next four years. The transition period seems to be signaling some very good changes, provided panic can be kept at bay, and the Republicans keep making sense. November 19, 2008 Llewellyn H. Rockwell, Jr. [send him mail] is founder and president of the Ludwig von Mises Institute in Auburn, Alabama, editor of LewRockwell.com, and author of Speaking of Liberty. Copyright © 2008 LewRockwell.com
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up a bit to try to understand why divided government, even when
it is divided among evil people, is better than unified government.
Ralph Raico makes the point at every opportunity that the reason
that the medieval period gave rise to liberty is that there was
no power center on earth. The state was in competition with the
Church and a thousand tiny governments were in competition with
each other. Power was diffuse, and though any center would have
been glad to have it all, the diffusion of power created a kind
of gridlock that permitted liberty to grow and thrive. 