Tuesday, August 10, 2010
Dear Uncle Gus,
What do you admire most about Jimmy Carter?
Dear Mr. Peanut,
I do not admire Jimmy Carter.
That fact out of the way, I must admit that there were several things he did during his administration that I am glad about. I don't agree with everything William Anderson says in this article (nor do I support the libertarian Mises Institute), but Carter did somewhat deregulate parts of the economy.
[I]n 1980 the Interstate Commerce Commission regulated both trucking and the railroads. ...In addition to the above, Carter legalized home brewing, paving the way for the vastly improved the beer culture the United States enjoys today.
Airlines had been "deregulated" for only two years. Government controlled the pricing and allocation of oil in the United States. "Regulation Q" and other restrictions on banks and financial institutions kept capital formation in the doldrums. Another way of putting it was that many sectors of this economy were more socialistic then than they are now. [i.e., in 2000 --ed]
Carter's administration played a large part in many of the deregulation efforts. [This also included oil. --ed] Unfortunately, he usually only got it half right, which reflected his core statist philosophy.
So far, then, the man who was once my least favorite President stands head and shoulders above the current occupant of the Oval Office, as well as the previous one, for that matter.
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