Maladjusted Managed Economies

Excerpt:  The experience of the Soviet Union, Japan, and China should, but will not, cause liberal activists to proceed with caution. According to today’s New York Times: “Senator Hillary Rodham Clinton said that if she became president, the federal government would take a more active role in the economy, to address what she called the excesses of the market and of the Bush administration…

Reflecting what her aides said were very different conditions today, Mrs. Clinton put her emphasis on issues like inequality and the role of institutions like government, rather than market forces, in addressing them”.

The logical end of Senator Clinton’s prescription was first articulated by the followers of Henri de Saint-Simon, who in 1829 addressed the following to the President of the French Chamber of Deputies:

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