Monday, August 13, 2007

The Free Market is Magic!

Apparently that was the thinking going into Iraq on the part of those in the US that were tasked with planning its post-invasion economy:
"Brinkley said early economic planners had made the understandable mistake of assuming that a free market would rapidly emerge to replace what he described as Saddam's "kleptocracy", and create full employment."
One can only imagine that these same people think they can put a watch in a bag, smash it with a hammer, and pull a much better watch out of the bag. This is more of the Underpants Gnomes-type thinking that has characterized this invasion:
Step 1: Invade country, overthrow old order.
Step 2: ???
Step 3: Stable, united, prosperous, market-economy, pro-US, pro-Israel, cheap oil-selling Iraq.
For all of their pro-market posturing, I'm wondering if the Bushies have any understanding of how markets are supposed to work.

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