Joseph Stiglitz explains how “conservative” policy has manacled “the invisible hand”

Thanks in large part to the anarchists who call themselves the Republican party, the world is being plunged into what seems destined to be a second and precipitously deep recessionary dip.

While this is not exactly news, it is a fact worth recalling that these “free-market” “conservatives” know nothing about Adam Smith, the God of capitalism whose name they take in vain.

Salon has a look.

Earlier posts on Adam Smith here and here.

Meanwhile, the know-nothing parade continues to add more floats. Texas governor, Rick Perry, who can be reliably identified as stupider than George Bush, seems set to run for president. The Republicans are incapable of putting together a full slate of candidates that doesn’t include an alarming number of cranks and nitwits. In fact, those quaint terms do not fully characterize the pathology represented here. The field now includes or has included or is expected to include the following: Donald Trump, Newt Gingrich, Herman Cain, Michelle Bachman, Rick Santorum, and, of course, Teabagger-in-Chief Sarah Palin.

These are the faces of the most dangerous political organization in the world. Behind the scenes, it is even scarier.