Submitted by Pliny, Sep 16, 2008 12:07

The article tries to break down economic history into "liberal" and "conservative" phases, but in reality there has been no true conservative phase. The liberal phase started with the introduction of the Federal Reserve and intensified during FDR's New Deal. Since that time we have had one unbroken liberal phase despite some attempts to soften it after the liberal phase's repeated failures. Today's current failure is yet another manifestation of government intervention in an economy that is no longer free and hasn't been free for decades.

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