“Spending Freeze? (referring to remarks by John Boehner), the brand named policy of economic fundamental misunderstanding endorsed by more conservatives than any other proven policy failure on the market today”

—  Rachel Maddow

The Rachel Maddow Show, MSNBC (6 March 2009)

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Rachel Maddow 49
American journalist 1973

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“Market power and externalities are examples of a general phenomenon called market failure—the inability of some unregulated markets to allocate resources efficiently. When markets fail, public policy can potentially remedy the problem and increase economic efficiency. Microeconomists devote much effort to studying when market failure is likely and what sorts of policies are best at correcting market failures. As you continue your study of economics, you will see that the tools of welfare economics developed here are readily adapted to that endeavor. Despite the possibility of market failure, the invisible hand of the marketplace is extraordinarily important.”

N. Gregory Mankiw (1958) American economist

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The giants of economic science during the past two hundred years have been men concerned with the critical policy issues of their time. They studied the working of the economy in order to advocate better economic policies. But despite their concern with policy, they were not polemicists or politicians but men who sought to persuade their contemporaries in government and in the broader public by analysis and evidence that would meet the standards of professional debate.”

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“The political policies that are called conservative these days would appall any genuine conservative”

Noam Chomsky (1928) american linguist, philosopher and activist

Quotes 1990s, 1990-1994, Interview by Adam Jones, 1990
Context: The political policies that are called conservative these days would appall any genuine conservative, if there were one around to be appalled. For example, the central policy of the Reagan Administration - which was supposed to be conservative - was to build up a powerful state. The state grew in power more under Reagan than in any peacetime period, even if you just measure it by state expenditures. The state intervention in the economy vastly increased. That's what the Pentagon system is, in fact; it's the creation of a state-guaranteed market and subsidy system for high-technology production. There was a commitment under the Reagan Administration to protect this more powerful state from the public, which is regarded as the domestic enemy. Take the resort to clandestine operations in foreign policy: that means the creation of a powerful central state immune from public inspection. Or take the increased efforts at censorship and other forms of control. All of these are called "conservatism," but they're the very opposite of conservatism. Whatever the term means, it involves a concern for Enlightenment values of individual rights and freedoms against powerful external authorities such as the state, [or] a dominant Church, and so on. That kind of conservatism no one even remembers anymore.

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“The great error of the last 50 years is that conservatives think that they should unthinkingly endorse laissez -faire economics, but as presently conceived the free market destroys most of the things conservatives value; it destroys traditions, family life, societies, cultures, and established ways of doing things. The market place, as understood by contemporary neo-liberalism, is something no genuine conservative should support or endorse.”

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Source: Den 11. time, Third season, programme 96, 3 March 2008, DR2
Source: Interview with Philip Blond http://www.dr.dk/Forms/Published/PlaylistGen.aspx?qid=616842&odp=true&bitrate=low&location=Lyngby&uri=http://www.dr.dk/Forms/Published/PlaylistGen.aspx, Den 11. time, DR2, 3 March 2008, Windows Media file, 28 min. (in English with Danish subtitles)

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