Rep. Hank Johnson: ‘Free Market Way of Thinking Doesn’t Work’

[rangerrebew]

Rep. Hank Johnson: ‘Free Market Way of Thinking Doesn’t Work’

(CNSNews.com) - Rep. Hank Johnson (D-Ga.) says that America has practiced the free market system over the last 40 years and “that it doesn’t work.”

Johnson made the comments while speaking on the House floor Thursday against the Sunshine For Regulatory Decrees and Settlements Act [1]. The bill aims at making the government give public notice when entering into legal negotiations that may result in new regulations.

“There has been a movement over the last 30, 40 years to turn people against the government,” Johnson said. “This mantra is that government is too big, we don’t need any rules to govern human conduct, let everything work itself out and the free market system will make it rain for everybody. Well, we’ve seen after 30, 40 years of practicing that free market way of thinking that it doesn’t work.”

“This is what this legislation is about gutting the rulemaking process,” Johnson later added.

“This is one of many attempts- incessant attempts by my friends on the other side to try and cut government and so that their friends in big business on Wall Street can make it rain for the rest of us. But they don’t make it rain for anybody but themselves.” 

 

Source URL: http://cnsnews.com/news/article/eric-scheiner/rep-hank-johnson-free-market-way-thinking-doesnt-work

[rangerrebew]

This is the same numbskull who asked a Navy Admiral in a congressional hearing if he was worried Guam would tip over if too many people got on one side.

[Longiron]

"You can't fix STUPID" per Tater!

[andy58-in-nh]

America hasn't practiced free market capitalism since at least the mid-1920s. Since that time, successive generations of statists and collectivists have continued to insist that the only economic system that is proven to create wealth and prosperity is a failure, even as their own crumbling schemes produce nothing but poverty, shortages and social decay. 

[Bigun]

America hasn't practiced free market capitalism since at least the mid-1920s. Since that time, successive generations of statists and collectivists have continued to insist that the only economic system that is proven to create wealth and prosperity is a failure, even as their own crumbling schemes produce nothing but poverty, shortages and social decay.

I submit that you would have to go way further back than the mid 1920's in order to find any real free market capitalism in this country!

[andy58-in-nh]

I submit that you would have to go way further back than the mid 1920's in order to find any real free market capitalism in this country!

We did have some semblance of it during the Roaring 20s, thanks to the benign influence of Calvin Coolidge, who was a great relief after the careless corruption of Warren G Harding and the insolent academic Progressivism of Woodrow Wilson. 

[Bigun]

We did have some semblance of it during the Roaring 20s, thanks to the benign influence of Calvin Coolidge, who was a great relief after the careless corruption of Warren G Harding and the insolent academic Progressivism of Woodrow Wilson.

Semblance is the correct word for sure!

[DCPatriot]

I submit that you would have to go way further back than the mid 1920's in order to find any real free market capitalism in this country!

From an individual POV, I must disagree.  Been self-employed since 1974, and had competed in a range of economic markets.  I'd experienced nothing but "real free-market capitalism" in my working career.   And with no safety net.

Bottom line is that you get paid in direct proportion to the effort put forth.   

The freedom to fail is free-market capitalism.

[andy58-in-nh]

Semblance is the correct word for sure!

As opposed to today, when we have no semblance of free market capitalism at all, only a perverse potion of bureaucratic, regulatory command-and-control, central bank manipulation, and corrupt cronyism.  Only the self-employed have a sense of what capitalism used to be in America, and they are routinely singled out for punishment by the apparatuses of the State.