Failures in the free market were not responsible for the great depression in the US. It was due to an influx of people taking out loans to immediately put that money into the stock market that caused the crash. The free market would've corrected itself. Agree/disagree/discuss.
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Anonymous2007-01-23 17:23
You have to remember that in Jefferson's time, the USA was the closest thing to a democracy in the entire world next to Switzerland which is astronomically easier to defend than the open plains of the US and they still had legalised slavery.
The general idea of the people having such power over the government they can remove it by force if it annoys enough of them and this power continuing onto whatever government replaces the last one is a perhaps complete method of ensuring tyranny does not occur.