Fred Weekly, Free-Market Fundamentalism, and the REINS Act
In the latest episode of CEI President Fred Smith's weekly vodcast, Smith explains why market institutions are better than political institutions at rewarding people for their value.
Andy Stern's December 1 Wall Street Journal op-ed blames "free-market fundamentalism" for America's economic woes.
"If America is indeed a free-market fundamentalist nation, it sure has a funny way of showing it. Federal, state, and local governments combine to spend roughly 40 percent of GDP. Washington indirectly spends another 12 percent of GDP by forcing businesses and consumers to comply with $1.75 trillion worth of federal regulations."
The House is expected to vote tomorrow on the REINS Act, which would force Congress to review major rules passed by federal agencies.
Read CEI's press release on tomorrow's vote here.