Mike Mitrosky
Member
- Oct 7, 2009
- 173
- 19
- 16
Okay but given all that - the misery - don't you think the present economic system is flawed? I mean, if you were designing an economic system would you want in the specs that every few years it had to fail?
You are presuming that this system is designed. Rather, it is what naturally occurs when human beings are left to their own devices. The dynamics behind the business cycle can even be observed in tribal societies, causing migrations.
Further, if properly prepared for, recession is not failure. Investors and companies that plan for recessions often do very well. Recessions hurt because people tend to believe the good times will never end.
That said, every effort to socially engineer a better system has failed miserably. It has proven incredibly difficult to control the behavior of over 300 million human beings.
The money system is designed so. Ever since 1913.. Before that it wasnt. Every dollar created comes with 5 cents of interest that isnt created and so the only way to keep the system going is to continually increase the money supply. Its an unstable system