Jeffrey Tucker, author of the books Bourbon for Breakfast: Living Outside the Statist Quo and It’s a Jetsons World: Private Miracles and Public Crimes; and new executive editor for the recently acquired Laissez Faire Books, has been a key voice for civil liberties and the reinstatement of free markets. With the bankruptcy of American Airlines, Tucker joined Fox Business News to discuss centrally planned failures, who is taking advantage, and where we need to go from here.
“Capitalism is a system of profit and loss,” Tucker said. “You have to take both in order to have a vibrant, free market. So it’s great to see this bankruptcy (of American Airlines). It reminds of what things like to be in the old days. Some companies win and some companies fail.”
When asked to address the stories about students renting foreclosed properties from banks, he said:
“People are moving out of dorms and into these luxury houses. What you have is a bubble bursting, the real estate bubble, and now it’s the American dream – which is affordable housing. And who is taking advantage of that? The students.”
“And [students] now get to live for four years in lush life before they go on the unemployment line.”
He added: “Here we have the development of a new bubble, which the Daily Reckoning has been talking about for a few years: the bubble in student loans.”
How do we fix this:
“It’s not just true in the United States; it’s true all over the world,” Tucker said. “We need to get rid of the central planners, because they cause waves and disaster. We need to restore the free market and we’ll start to see the kind of prosperity that we saw when we did have a free market – which is growth of 10-15%. It is possible.”
Watch the full interview below, or you can watch at Fox Business News.
