there are problems in the past

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On the function of the government in the two periods is different.
◆ government because it is non-perfection like you and me, are mortal,[link widoczny dla zalogowanych], have their own interests to pursue. To the public, you are willing to endure the pain of rent-seeking corruption, or are willing to put up with greedy monopoly on the market suffer? You are not a choice between an angel and the devil, but pick one between two devils against small, pick a low cost.
Xiaonian: the free market system will not crash? we can look at history. 1929 \toward the war. After World War II, the Western world has experienced a difficult reconstruction, although the countries in strengthening the government functions, but the foundation is still a free market system. If the free market system can be in the \to a large extent, and war. The war, when government stepped in to the whole society into war in the name of the economic track, control prices,[link widoczny dla zalogowanych], arrange production to ensure the military, assigned to deal with the shortage of consumer goods. This tradition continued after World War II, down, particularly in Europe, the Marshall Plan to rebuild Europe is the Government of the Government's plan, only through the Government's implementation, and strengthen the government's economic functions.
in the postwar decades, Europe's inefficient state sector long-term, full redundancy, lose money. Thatcher in the 1980s - the rise of Ronald Reagan not by chance, not to say a Hayek, out of a Friedman, and just run into Ronald Reagan and Margaret Thatcher share their ideas, setting off a lift control and the wave of privatization, but to solve a problem of state-owned sector efficiency measures. Reagan and Margaret Thatcher have to do, or Republican in the U.S., the Conservative Party in Britain, it is impossible to obtain the support of voters.
Hayek and Friedman insisted the free market system, adhere to their own ideas, the reason widely supported, and largely on the social environment, and economic development related to the objective situation. The original choice has encountered a problem, the state sector might, must find its alternatives, as China's economic reform, as practice has proved that a planned economy being the case, or whether other leaders Deng Xiaoping,[link widoczny dla zalogowanych], to the support of the people Under the long-term power, would choose to reform and opening.
SW: Now the U.S. subprime mortgage crisis is gradually evolved into a global economic crisis, is not it means that governments have to seek another fundamentally different solutions?
Xiaonian: looking for alternative, we should ask what you can choose, with a planned economy alternative to the free market system? even if the financial crisis, I am afraid that no one proposal back to the planned economy in Eastern Europe, former Soviet Union and China's experience shows, the planned economy There is no hope.
free market system is not perfect, there are problems in the past, and now run into a problem in the future but also a variety of problems will happen, but so far,[link widoczny dla zalogowanych], it is beyond human resources to find the best mechanism.
Why? Hayek pointed out that modern economic activities are extremely complex, involving some of the billions of consumers and manufacturers, the number of products and services? How many kinds of resources to be configured? If by the Government complete this task,[link widoczny dla zalogowanych], most officials of thousands of central planning can not collect and process such large amounts of information. Resource allocation of social problems can only piecemeal into decentralized decision-making individuals and businesses, from 1.3 billion to collect and process information themselves to make their own decisions.
Some people may ask, individuals and businesses make their own decisions, not to fall into a state of disorder that it? who will coordinate the social and economic activities? Hayek said that the free market is orderly ,[link widoczny dla zalogowanych], the order by the price mechanism to maintain the community's economic activities coordinated by the price, not super social institutions to a unified scheduling and management. Output prices of goods and inputs to tell every business, you should produce what, what, how much production and production. The price of consumer goods to tell every consumer, you should buy what and how much to buy. Our country's economy is not that you run this?
Hayek financial crisis has changed the conclusion it? Not. Some people think that the financial crisis that the free market system to die, but could not speak truth to also take no alternatives. Since the 1930s the \configuration, government intervention only as a correction of \Financial crisis did not change the basic framework, I do not see any reason to change it.
for the economy after the financial crisis, need to discuss,[link widoczny dla zalogowanych], not to replace the free market system of central planning, not under the control of the government-led or \failures and market imperfections, through institutional and policy adjustments to improve the efficiency of market allocation of resources. The functions of the government here is \
discuss the \For example, market failures caused by asymmetric information, market participants if the information is not perfect, why should we assume that the government had perfect information? If the Government's message is not perfect, why should government intervention to overcome market failure as the magic it?
Second, the market transaction costs, government intervention has costs. Third, we must take into account the \
market is not perfect, the Government is not perfect. Keynesian logical contradiction here, the market is not perfect, the government is perfect. Met the devil angel, the conclusion goes without saying you?
SW: Well, the current measures taken by countries in the world, including the discussion under intensive global collective rescue plans, should not the government intervene in the market? As you said, , now \
Xiaonian: In the evaluation of the U.S. government's financial rescue, people are very confused during the period and the normal function of the government in the two periods is different.
proposed 700 billion U.S. Treasury rescue plan, the financial markets is already a panic, sense of insecurity, panic spread quickly. This is a very time, need the government to take urgent measures,[link widoczny dla zalogowanych], the same as in a state of war. Keynesian economics, academia, some people called the Depression Economics, which is very accurate, but not normal economic depression economics, you see the original works of Keynes, \
Keynesian later made a mistake, confused with the normal times of crisis, in extraordinary times normal implemented under the policy, with the very period of government intervention, demonstrated the Government under normal offside. In this respect, a departure from the Keynesian Keynesian's intent.

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