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View Diary: Panic among the libertarian economists: Success with the stimulus will prove their theories wrong (57 comments)

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  •  two ways you can judge a country (0+ / 0-)
    1. how many want to get out vs. how many want to get in
    1. how the people on the bottom rung live compared to their peers in other nations.

    we must be doing something right, economic cycles can not be stopped by fiat, they are part of the free market.  The government can reduce the blow with good Fed policy but the cycles will always occur.  And of course we need to root out corruption both in government and in the private sector.

    •  You like the cycles we've been put through? (4+ / 0-)

      To me, the wrenching booms and busts of capitalism are the very definition of its failure.  2008 is a rerun of 1929 - not to mention 1837, 1857, 1873, 1893, and 1907.  The moral hazard of our system builds excessive debt, which ultimately the worker cannot pay, since real tangible wealth can be made only so fast.  This boom is followed by a bust, in which, heretofore poor folks have been forced to bailout rich folks.  I'd like to see a change to all that.

      How about we start with killing the TARP monster?

    •  Do we have a free market or not? (2+ / 0-)
      Recommended by:
      theran, Paul Goodman

      Don't follow your reasoning. Some posts are yes we have a free market. Others are no we don't. Which is it?

      •  we have a relatively free market (2+ / 0-)
        Recommended by:
        Paul Goodman, iBlue

        but since the .com bust, our government has intruded more and more.  This is similar to adding more gun laws after a particularly heinous gun crime.  It does not matter that gun crimes are already illegal, it only matters that people want government to "do something".

        so we do not have a totally free market.  but we do generally approve of the free market and we are not generally a government driven centralized economy.  so I may sounds wishy washy but that is how real life is, we do not practice pure captialism just like the Soviets never practiced pure communism.

    •  not about eliminating cycles at all (1+ / 0-)
      Recommended by:
      TurkeyCreek

      it is about reducing the severity and guiding the growth.  

      I am repeating myself, and thats ok.

      by mickslam on Fri Jan 23, 2009 at 06:20:16 PM PST

      [ Parent ]

    •  Don't you know that in the UK (1+ / 0-)
      Recommended by:
      TurkeyCreek

      Gordon Brown abolished boom and bust? Don't you all just wish you lived in the UK, had a mighty leader like Brown and an excellent economic environment like the UK. ;-)

      "a weak currency arises from a weak economy, which in turn arises from a weak government" Gordon Brown

      by Dougie on Sat Jan 24, 2009 at 03:11:23 AM PST

      [ Parent ]

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