2nd Worst Financial Crisis In History: Who gets credit?

[☭proletarian☭]

So in a free market the govt should provide no support to business right?
Like protecting foreign interests in corporations?

Like the FDA providing security for depositors so they will deposit?

Or like FHA, the patent office, etc?

Or providine specific incentives for a business to locate somewhere?

In a free market the government's only job is to enforce contracts and prosecute fraud.

You just said that's intervention.

Hence you support intervention.

Hence, per your own definition, you do not believe in the free market.

Hence, per your definition, you are not an Austrian.

Hence, per your definition, you are a liar.

 

[uscitizen]

So in a free market the govt should provide no support to business right?
Like protecting foreign interests in corporations?

Like the FDA providing security for depositors so they will deposit?

Or like FHA, the patent office, etc?

Or providine specific incentives for a business to locate somewhere?

In a free market the government's only job is to enforce contracts and prosecute fraud.

And why should they even do that?

 

[Kevin_Kennedy]

Fail.

I support regulation, not intervention.

I've explained this to you in the past. Why do you insist on being so dishonest?

Government regulation is economic intervention.

I'm not half so dishonest as someone like you claiming to be an adherent of the Austrian school of economics.

Fail.

Passing laws that require people honour their contracts and requiring transparency of AIG and Enron is not intervening in the market. It is regulating the market to ensure that a free market exists.

There's a huge difference between such regulation (good law) and intervention (bailouts, monetary inflation, artificially imposed interest rates etc)/

If you're unwilling to see this, then you are dishonest; if you are unable, then your are blind.

That's not what you're talking about, however. You're supporting laws that make it illegal for people to work for less than a certain wage. That's economic intervention.

 

[Kevin_Kennedy]

So in a free market the govt should provide no support to business right?
Like protecting foreign interests in corporations?

Like the FDA providing security for depositors so they will deposit?

Or like FHA, the patent office, etc?

Or providine specific incentives for a business to locate somewhere?

In a free market the government's only job is to enforce contracts and prosecute fraud.

And why should they even do that?

Defrauding people and breaking contracts is violating the rights of others.

 

[uscitizen]

In a free market the government's only job is to enforce contracts and prosecute fraud.

And why should they even do that?

Defrauding people and breaking contracts is violating the rights of others.

Ahh that variable rights thing.

So you are against Tort reform?

 

[Charles Stucker]

Unemployment is high, there is a sense of bewilderment clouding the minds of the public, but all signs say we are out of the wood and on the road to recovery.

That's what FDR said in 1937 - the economy was recovvering despite having high unemployment. Then the unemployment dragged the economy back down. Just like it could do now.

Socialist programs, for which the Democrats can take the lion's share of the credit, impede employment and economic recovery.

 

[Kevin_Kennedy]

And why should they even do that?

Defrauding people and breaking contracts is violating the rights of others.

Ahh that variable rights thing.

Well one must come to an acceptable definition of what a right is, of course. And that's obviously where disagreements are to be had.

 

[uscitizen]

Unemployment is high, there is a sense of bewilderment clouding the minds of the public, but all signs say we are out of the wood and on the road to recovery.

That's what FDR said in 1937 - the economy was recovvering despite having high unemployment. Then the unemployment dragged the economy back down. Just like it could do now.

Socialist programs, for which the Democrats can take the lion's share of the credit, impede employment and economic recovery.

Unemployment is even more likely to drag us back down now since we are 70% dependent on consumer spending.

 

[☭proletarian☭]

In a free market the government's only job is to enforce contracts and prosecute fraud.

And why should they even do that?

Defrauding people and breaking contracts is violating the rights of others.

So are slavery and colonialism

 

[Kevin_Kennedy]

And why should they even do that?

Defrauding people and breaking contracts is violating the rights of others.

So are slavery and colonialism

Luckily I'm not advocating either.

 

[☭proletarian☭]

Defrauding people and breaking contracts is violating the rights of others.

So are slavery and colonialism

Luckily I'm not advocating either.

Except that you are as they are the end result, every time, of the unregulated Bourgeois liberalism you advocate

 

[Kevin_Kennedy]

So are slavery and colonialism

Luckily I'm not advocating either.

Except that you are as they are the end result, every time, of the unregulated Bourgeois liberalism you advocate

So you're a Marxist-Austrian? There's a contradiction.

 

[☭proletarian☭]

Luckily I'm not advocating either.

Except that you are as they are the end result, every time, of the unregulated Bourgeois liberalism you advocate

So you're a Marxist-Austrian? There's a contradiction.

I've said repeatedly that I'm not a Marxist.

The Marxian school, like the Austrian and Neoclassical got some things right and some things wrong. The wise man takes what works from all fields in order to better understand the world. Unlike you, I don't limit myself to some dogma.

 

[Kevin_Kennedy]

Except that you are as they are the end result, every time, of the unregulated Bourgeois liberalism you advocate

So you're a Marxist-Austrian? There's a contradiction.

I've said repeatedly that I'm not a Marxist.

The Marxian school, like the Austrian and Neoclassical got some things right and some things wrong. The wise man takes what works from all fields in order to better understand the world. Unlike you, I don't limit myself to some dogma.

Then why call yourself an Austrian when you're obviously not?

 

[☭proletarian☭]

So you're a Marxist-Austrian? There's a contradiction.

I've said repeatedly that I'm not a Marxist.

The Marxian school, like the Austrian and Neoclassical got some things right and some things wrong. The wise man takes what works from all fields in order to better understand the world. Unlike you, I don't limit myself to some dogma.

Then why call yourself an Austrian when you're obviously not?

That's like asking why someone calls themselves a Republican when 'they're obviously not' because they don't agree with the party line 100% or why they call themselves a Patriot when 'they're obviously not' because they disagree with some of the COnsdtitution's language some American policies.

 

[Kevin_Kennedy]

I've said repeatedly that I'm not a Marxist.

The Marxian school, like the Austrian and Neoclassical got some things right and some things wrong. The wise man takes what works from all fields in order to better understand the world. Unlike you, I don't limit myself to some dogma.

Then why call yourself an Austrian when you're obviously not?

That's like asking why someone calls themselves a Republican when 'they're obviously not' because they don't agree with the party line 100% or why they call themselves a Patriot when 'they're obviously not' because they disagree with some of the COnsdtitution's language some American policies.

Not really. You can agree with most of the Republican platform and most of the Constitution, but you reject the free market which is the basis of Austrian economics.

 

[elvis]

Unemployment is high, there is a sense of bewilderment clouding the minds of the public, but all signs say we are out of the wood and on the road to recovery.

That's what FDR said in 1937 - the economy was recovvering despite having high unemployment. Then the unemployment dragged the economy back down. Just like it could do now.

Socialist programs, for which the Democrats can take the lion's share of the credit, impede employment and economic recovery.

you may want to address the fact that in 1937, fdr stopped the deficit spending and the economy went back down.

 

[Neubarth]

Unemployment is high, there is a sense of bewilderment clouding the minds of the public, but all signs say we are out of the wood and on the road to recovery.

That's what FDR said in 1937 - the economy was recovvering despite having high unemployment. Then the unemployment dragged the economy back down. Just like it could do now.

Socialist programs, for which the Democrats can take the lion's share of the credit, impede employment and economic recovery.

Not "could do." It IS dragging us down. All of the economic data confirms it. We are continuing to collapse deeper and deeper into this horrendous depression. It is already far worse than 1929.

 

[boedicca]

you may want to address the fact that in 1937, fdr stopped the deficit spending and the economy went back down.

He also raised the top tax rate to 79% in 1936.

Yes, FDR reined in gov't spending in 1937, but GDP still grew 5%, and unemployment dropped a bit. When spending is out of control, there is going to be short term pain to correct it.

 

[☭proletarian☭]

Then why call yourself an Austrian when you're obviously not?

That's like asking why someone calls themselves a Republican when 'they're obviously not' because they don't agree with the party line 100% or why they call themselves a Patriot when 'they're obviously not' because they disagree with some of the COnsdtitution's language some American policies.

Not really. You can agree with most of the Republican platform and most of the Constitution, but you reject the free market which is the basis of Austrian economics.

I am a defender of the free market. You advocate its takeover by the elite and the elimination of market competition.