The current economic crisis has unleashed commentary, advice, admonitions, predictions, and acts of contrition from all quarters. Despite this deluge of words, the economy continues to worsen and actions taken are tentative and inconclusive. Is this another case of Nero playing the lute while Rome burns?
Discussions and dialog are the very foundations of democracy, but there has to come a time when action is taken. Caesar crossed the Rubicon, McArthur returned to the Philippines, Roosevelt got Americans back to work – come on people, enough talk and let’s sort this thing out! What’s the point of a Treasury Department with no fiscal leverage? Why do we have a Department of Energy incapable or unwilling to vigorously pursue alternate sources of energy? Laissez-faire might have worked for the Louis XIV administration or Imperial Britain, but it obviously does not apply to XXIst Century America.
The time for position papers and feasibility studies is long past. The question being asked in the wake of government intervention is: “Do we still live under Capitalism?” Well, folks, whatever works. If you want to indulge in meaningless academic discussions go ahead. The rest of us need to roll up our sleeves and get to work. Enough with the words – let’s get some action.