12-30 Letter to the Editor

Laws regulate society

Regarding your Dec. 9 editorial “Private sector holds key to more jobs:”

The writer says government does not have a clue of how the economy works and its policies keeps small business from creating jobs. This ideology says markets are always right and need no controls.

The article’s final paragraph reads, “reduce taxes, reduce onerous regulations, sign trade agreements that will facilitate exports, and put ambitious new government programs on hold, and we’ll see such jobs created.” This is an example of facts being ignored when it conflicts with ideology.

Alan Greenspan admitted the market could not police itself. The reason for our financial crises was the ideology of no controls over market. Some laws were ended and regulators that did not believe in regulation looked the other way. Governments world wide consulted with expert economists and financial leaders regarding the financial system meltdown. The consensus was that governments had to step in to prevent a world-wide catastrophe.

Failure to heed the advice of financial leaders and economists would be the equivalent of, as the saying goes, “letting the inmates run the asylum.”

Laws make civilized life possible.

Leon Logan, Tucumcari