Quote:
Originally Posted by Solace
The mention of the repeal of usury laws in that entry is very true. It's astounding to me how quickly we went from New Deal regulations right back to rampant deregulation and an economy a breath away from complete collapse again.
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It's because of the entirely unsubstantiated faith in the Invisible Hand. An
Islamic concept of divine economics (That originally claim that Allah actually control the price of goods, and that government price control is blasphemy) that got plagiarised by Adam Smith and used to claim that the market shouldn't have any laws at all, and that it would function best if left alone.
Note that many Americans absolutely do not doubt the existence of the Invisible Hand. Guess that's what happens when one is already religious; it is easier to believe in another god when you already have one.