If the Green New Dealers have their way, the interventionist state will be taken to an entirely new and more destructive level as one great plan for global salvation is imposed on everyone, everywhere, with no avenues of escape in our age of electronic Big Brother surveillance and control.
The classical liberalism of the 19th century needs to be the reborn new liberalism of the 21st century, to once more offer an ideal of individual freedom, free enterprise, impartial rule of law, and equality before the law.
Government spending and borrowing has been and will continue to be seriously out of control, with dire longer-run consequences if not addressed, while addressing it would be far less of a fiscal disaster than it will be if the country is left to follow its current course.
This is a slipshod attempt to taint and tarnish the reputation of one of the leading economists of the 20th century, and one of the most consistent and outspoken defenders of the classical liberal ideal of political, social and economic liberty and the free society.
Interest rate manipulations by central banks through monetary policy are similar to price controls on other goods.
Liberty in its personal, social, and economic aspects cannot be compromised without threatened and actual loss of its essential qualities and a losing of the moorings that protect humanity from the paternalistic and overbearing and tyrannizing state.
The best solution would be if the British authorities followed a policy of laissez-faire. What would this mean?
Professor Stiglitz is confident that humanity can be made better; just collect the data, organize and catalog it, and reduce all to a series of statistical indices, and heaven will be a little closer on earth once the right policies are implemented.