Yes, the apostle of free markets, the scourge of regulation and taxation, the bastion of nutcase supply side economics – the Wall Street Journal editorial page – has come out foresquare for more regulation…
For Haiti, at least. The Journal editorial contrasts the toll of the Haitian tragedy with the comparatively slight toll of a 1994 Northridge quake of similar power. “The difference,” the Journal writes, is that a wealthier society “can afford, among other things, the expense of proper building codes.”
Got that right. And the expense of proper financial regulation, environmental and consumer protection, protection against fraud and more
Has the Wall Street Journal gone, in the immortal words of Margaret Thatcher, “wobbly” on us? Or did the horrors of the Haitian tragedy simply lift the blinders of ideology if only for a nanosecond?