It is folly to believe that Congress and the president, on their own, will make the necessary and difficult decisions to address the impending financial debacle. After all, they and their predecessors engineered the approaching tsunami. As the situation becomes direr, the federal government's actions will grow more oppressive.
Politicians and bureaucrats are substituting their uninformed, largely political decisions for those of the marketplace. Their past miscalculations demonstrate that they do not and cannot possess the information, knowledge, means, and discipline to manage the economy.
Activist Supreme Courts are not new. The Dred Scott decision in 1856, imposing slavery in free territories; the Plessy decision in 1896, imposing segregation on a private railroad company; the Korematsu decision in 1944, upholding Franklin Roosevelt’s internment of American citizens, mostly Japanese Americans; and the Roe decision in 1973, imposing abortion on the entire nation; are examples of the consequences of activist Courts and justices.
When the Statist makes a wrong decision, its impact is far-reaching, for he uses the power of government to impose his decision on as many individuals and businesses as possible, which distorts the free market itself.
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