Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
There really needs to be reforms in the Federal Reserve. For one, the Fed needs to promote a strong currency. Period. They have no business trying to "fight inflation', "maintain low interest rates", or "stimulate the economy".
There is only one way to run an economy and that is to let it run.
Government has no place in the economy, except for infrastructure and defense.
To every job, there is an organic wage attached to it. There always has been and always will be.
When you try to falsely control wages, problems occur.
"Living wage" or "fair wage" does not exist in the real world.
Please explain how you would handle the economy.
You want the soup and a piece of bread economy aka Foxconn workers jumping to their death due to overworked and underpaid. Unions came into existence because white America was complaining of poor work conditions, poor health and low wages back in the early 1900's.
You want to erase that? The government isn't there to help minorities achieve its there because white America whined about slave labor.
You still don't care to hear this, keep closing your ears and do believe in free market.
The logical progression of the government being vital to the economy is the government simply, well, BEING the economy. As in the former USSR and the current PRC discovered (the latter having realized the error of its ways, is busily imitating nineteenth century British mercantilists -- the poor Chinese just can't get it right, can they?).
Just as true laissez-faire would end up with us eating each other and encouraging the millionaires to engage armies of private thugs to beat off the hungry mobs a la Colombia, so would the endgame of the "progressives" end up being a government of super-leeches sucking tax money to pay for free bread and nude circuses to keep the proles pacified, and using the full faith and power of the government as a giant platinum Visa card. Kind of like Paul Krugman wants.
I don't have an answer. And I don't see either Obama or Romney coming up with one, either. The crucial difference is that I'm not asking for the keys to kingdom and they are...
There is only one way to run an economy and that is to let it run.
Government has no place in the economy, except for infrastructure and defense.
To every job, there is an organic wage attached to it. There always has been and always will be.
When you try to falsely control wages, problems occur.
"Living wage" or "fair wage" does not exist in the real world.
Please explain how you would handle the economy.
What you wrote is like saying that if people are sick we should just let the illness run its course even if we have medicine that will speed recovery.
Economic tools are available that can be used to reduce misery and not to use them out of ideological dogma is insane.
Government exists to make the lives of the people better. Business free-for-all is no solution. Government action was a response to business abuse and market failures.
If Government has no place in the economy, except for infrastructure and defense, then we shouldn't inspect food; have airline controllers to manage air safety; assure the public safety; run public schools; have police; etc. I think most people would disagree with your go back to the caves simplistic solutions.
Quote:
Originally Posted by irishvanguard
There really needs to be reforms in the Federal Reserve. For one, the Fed needs to promote a strong currency. Period. They have no business trying to "fight inflation', "maintain low interest rates", or "stimulate the economy".
These are missions that they are incapable of.
The Fed's responsibility is to control inflation and unemployment. Their 100 year track record is far better than the 100 years that preceded, which is littered with many periods of dramatic booms and busts.
Promoting a strong currency all the time means that American products are not competitive overseas.
What you wrote is like saying that if people are sick we should just let the illness run its course even if we have medicine that will speed recovery.
Economic tools are available that can be used to reduce misery and not to use them out of ideological dogma is insane.
Government exists to make the lives of the people better. Business free-for-all is no solution. Government action was a response to business abuse and market failures.
If Government has no place in the economy, except for infrastructure and defense, then we shouldn't inspect food; have airline controllers to manage air safety; assure the public safety; run public schools; have police; etc. I think most people would disagree with your go back to the caves simplistic solutions.
The Fed's responsibility is to control inflation and unemployment. Their 100 track record is far better than the 100 years that preceded.
Promoting a strong currency all the time means that American products are not competitive overseas.
Market failures were the fault of government intervention.
I can see the folks who DON'T have a degree in ECONOMICS.
And that's the last I have to say on this thread....LOL.
That's the best response I've read so far. This thread is play in the sand-box economics and public policy.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
