Today while telling in Norwich North, I was joined by a charming lady from the Green Party.
In conversation, she indicated the Green view that the present crisis was caused by the liberalisation of banking and the operation of the free market. I explained the ways in which I disagreed.
These are the posts I recommended:
- A quick guide to The Credit Crisis, which links to:
- Banks, economic interventionism and the cause of the credit crisis,
- And this primer which includes:
- This short essay on the Austrian theory of the trade cycle.
As I said earlier, perhaps the greatest of my dissatisfactions with the Green Party is their lack of a coherent explanation for misallocation (that is, waste) of resources, resource over-consumption and the boom-bust cycle. If we truly care about the environment and people’s well-being in it, good intentions and passion are not enough: we must understand the way society works and the factors affecting consumption.
In the meantime, all the best today, on polling day, to Chloe Smith.
