Australian libertarian commentator Eric Fry, on his website The Daily Reckoning, recently compared the Fed’s recent bailout of reckless mortgage loan speculators to how American educators have taken to coddling burgeoning young art students.
“…Modern American-style capitalism is more like ‘arts and crafts’ time in one of Manhattan’s pricey nursery schools. Every coddled kiddy’s ‘artistic’ creation – no matter how inept or ghastly it may be – elicits praise from the nursery school instructors. Indeed, every grunt elicits praise…and every boo-boo finds a Band-aid.”
This is revealing in two ways. First, that the cushy manner of the American education system, and the entitlement culture it engenders, is becoming increasingly known around the world. Second, that this entitlement culture may not only be a factor in American art and education, but it may have become entrenched far and wide, in the money system, the federal government, and the supposedly “free” economic market.