Comments (4)

• J. H. Huebert

  As always, putative libertarian Tyler Cowen avoids taking the libertarian position and provides "public policy" reasons why we probably need government intervention.

  Published: February 14, 2006 1:25 PM

• iceberg

  J.H., you summed up my reasons for ignoring his site; there are already enough statist shills out there.

  Published: February 14, 2006 1:44 PM

• William

  I hate it when a statist uses the reason for stopping competition is that the new competitors will in fact compete with the current suppliers. It is especially bad when the statist admits that prices will most likely go down. Then it goes on to say that lower prices are somehow bad for consumers. Then the statist realizing that their argument is crap brings up the Federal (Collective) liability, the only insane part of which is that the Federal Government can at any time dissolve its responsibility and let private owners take responsibility for their own banks.

  There is no downside to this proposal. Wal-Mart is financially much better off than most banks and will depend less on the Federal Reserve to make its reserve requirements than just about any commercial bank, except the biggest three, Microsoft, GE and Toyota.
  

  Published: February 14, 2006 9:26 PM

• georgist

  Cowen is right that at some point, Wal-mart may ask the FDIC or congress to bail out its bank portion, effectively subsidizing its retail portion, but all that shows is that when that point comes, we should oppose the bailout as we would oppose the bailout for any bank for business. It's kind of like that silly argument "The FairTax is bad because a different version will be passed." So oppose the new version if it gets amended!

  Published: February 14, 2006 9:33 PM