The Free Market as All-Purpose Scapegoat
Commentary
The Sunday New York Times a week ago featured a lead, front-page article titled, “Failures of Globalization Shatter Long-Held Beliefs,” rattling off a litany that included COVID, Russia’s invasion of Ukraine, the Trump administration’s tariff-based pushback on China’s economic warfare against the free world, the 40-year-high inflation coinciding with President Joe Biden’s big-spending presidency, global warming, financial inequality, and then crowed in not so many words that the culprit is capitalism.
The Times cried, “It has suddenly seemed as if almost everything we thought we knew about the world economy was wrong.” Too bad everything we thought we knew about the establishment media in America always turns out to be right: they will use any and every excuse to encourage giving socialism a try because, look, here’s new evidence the free market is failing….