Interest rates have been cut around the world.
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It doesn't take a Nobel Prize economist to figure out Friedmanism, with its adherence to a religion of laissez faire and glorification of greed, is at the root of our economic mess.
We have known this for decades; the Great Depression proved beyond ALL doubt "free market economics" won't work for the same reason communistic running of economies didn't work: both ignore the realities of human nature. There has to be a referee which looks out for the best interests of society as a whole. The mixed economy is the best, with government being the referee.
(H/T Anglachel, Susie Madrak)
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