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Wednesday, September 17, 2008
1:08 PM | Author: Brett Bumeter - Unknown | | | Edit Post
There has been a lot of attention being paid to the failing financial markets in the United States and around the globe of late, and ultimately the fate of many lie in the hands of a few. Unless you've been living in a cave, you undoubtedly heard about the worst decline of the Dow Jones Industrial Index since Sept. 11, 2001 occurred on Monday with the index plummeting over 500 points. Well, there was a slight rebound yesterday and another gigantic plunge today to the tune of 449 points.
Suffice to say, this economic downturn is effecting numerous industries from aeronautics to logistics to well everything. It is no secret that the United States government is looking into a number of matters to stem the crisis and hopefully bring back an air of economic prosperity we enjoyed some years ago. Well, that economic prosperity may come at a price, a price the free market knows as regulation.
Regulation is an excellent tool that when used correctly can bolster the economy, but can also inhibit the free market and lead to disadvantages for companies or industries that can't afford the ear of their local government.
It will be interesting to see if the Wall St. crisis ultimately leads to an era of government regulation into the free market economy. It will be interesting to see just how far reaching this "regulation" may be and to whether or not it will breach all aspects of the economy or remain firmly entrenched in the financial markets. Either way, the long reach of the government will likely be felt across the table.