Fire the Nanny

Even under a “conservative” President, government entitlements continue to grow.  President George W. Bush’s expansion of Medicare to include prescription drugs will add billions to the already overinflated budget.  And, despite warnings from Alan Greenspan that Social Security is on the verge of default, neither political party is willing to address the issue.  Americans have grown accustomed to the “nanny” state, which has had, according to Jim Powell, a deleterious effect on human freedom, economic well-being, and common sense that few dare to question.

Powell is an historian and a senior fellow at the Cato Institute.  His revisionist examination of FDR’s New Deal is an assessment of the major players who formed policy during the Roosevelt era and refutes the lingering myth that government programs, public projects, and monetary regulations are good for society.  He shows that America, then and now, would have been better off had the New Deal never been implemented.  He argues that laissez-faire capitalism is cyclical in nature, with a natural ability to rebound, and that government intervention effectively stifles initiative and recovery.  He convincingly argues that the New Deal prolonged the Great Depression.  His impressive display of hard data supports his conclusion.

The current outsourcing of American jobs serves as a prima...

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