Out of Control Policy Blog

In Defense of Investors

A tip of the hat to Houston Clear Thinkers for these Point-Counterpoint videos drawn from the 1991 film Other People’s Money. You’ll find them remarkably relevant in the current economic policy debate. Best thing of all, it’s done without irony. No less than Atticus Finch himself (Gregory Peck) earnestly makes the case for what is now the Obama “common good” capitalist ethic (down to infrastructure spending!) while Danny DeVito gets the last word with an unapologic defense of Schumpeterian capitalism and why failing companies must be allowed to fail. What DeVito’s character says wouldn’t play well on the evening news , but it’s the type of aggressive argument that free market advocates need to make if we are to begin reversing the adminstration's alarming interventionist trend.  I’ll leave it to you to decide which argument is strongest.





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