The SEC Wants to Ban Reality – 24/7 Wall St.

The SEC Wants to Ban Reality

Posted: September 25, 2008 at 6:09 pm

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By John Tamny, RealClearMarkets

Ned Ludd founded an eponymous movement in 19th century England meant to ban the mechanized looms that made the work of skilled textile artisans superfluous. According to the Luddites, the advances in textile technology operated by lower-skilled workers would put the skilled out of work, with some kind of "race to the bottom" the logical next step.

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