Sources: The Detroit News , 
quote: No it isn't- there are certain things we need to to keep this economy running efficiently- power, oil, highways, food, national defense, open communication a legal framework to resolve disputes and a workforce. It sucks, but there's no good (and in some cases none) free market framework for managing many of these items well- the free market is too prone to the interests of profit to manage these in an efficient manner which promote economic growth.
quote: However, I do think regulation and government oversight is a necessity in many/most.
quote: Second, states like Israel have proven you that government run can institutions like universal health care effectively and cost efficiently without corruption.
quote: Thirdly, much of the poor management issues you cite in government can be found all over the market, from consumers to corporations.
quote: Poor management (and corruption) led to the collective failure of hedge funds, over leveraging of assets, and lending to unqualified borrowers which caused the financial crisis we just experienced (don't *you* watch the news?)
quote: You fail to recognize that many of these issues have their roots in the free market.
quote: The market lobbies to soften or eliminate regulation viewed as an impediment to immediate profit growth.
quote: The government may accept bribes and kickbacks, but it's the market who's making the bribes and kickbacks.
quote: You might even accuse the White House of making a mockery of capital structures- but GM and Chrysler failed to protect their capital structures in the first place.
quote: Yes, but capitalism is the nearly undisputed king of economics, now and since the forerunners of Adam Smith, because on the average free market actors do a less bad job then government hacks.
quote: The sub-prime market essentially did not exist until the government mandated its opening via acts like the Community Reinvestment Act, which forced banks to lend to the poor.
quote: How is that an excuse for violating property rights? ...to make the actions of the left somehow excusable.
quote: Ah! I see. Blame the moral failures on the other guy.
quote: Then highways. While we can agree roads are a necessary public good you should also be aware that its one of the most corruption-ridden areas of government procurement around the world, even in otherwise 'clean' places like government. Kick-backs abound. If someone along the line had profit-motive to keep costs under control, maybe things would turn out different?