bripat9643
Diamond Member
- Apr 1, 2011
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The Fed is intimately connected to government. It's the perfect example of non-free market corporatism, and a direct result of indulging government interference in economic matters.
The Fed works independently of the government. It is the result of free market capitalism, as those in financial power eventually take over. Also, it doesn't work for the government but the other way round.
I actually agree with the characterization that the government works "for" the Federal Reserve. This has long been my point, that the regulatory regime we think of as keeping corporations "in line" actually serves their interests. But business employing government to force it's will on people is not a free market.
That's because of industrialization coupled with free market capitalism, both the result of a free market. In this case, we see robber barons exploiting natural resources, and with support from government, and later the rise of industrialists coupled with financiers, then the takeover of money supply, followed by consumer spending and then financial deregulation.
Again, in order to have anything to 'de-regulate', we first have to indulge their desire to regulate their markets in the first place, and that is our 'original sin'. It took thousands of years, and much unnecessary suffering, but we finally learned our lesson regarding the mixing of government and religion. The only way to keep religion out of government is to keep government out of religion. The same dynamic applies to economic power, and it looks like we're destined to learn the hard way yet again.
Again, modern capitalism coincides with regulation. How do you think property rights and the formation of corporations took place?
What an ignoramus. Do you actually believe that property rights didn't exist before government regulation? They had property rights in the fertile crescent 6000 years before the rise of the first civilization. Do you imagine that crops were grown communally in those days?