Economic GENIUS !

United States
January 28, 2008 8:31am CST
Yes, the man who wrote this understands economics much more than most. Those who want to know the secret of how America became strong should read this. It also explains how it is that America has become weaker. The secret of how any country can become stronger is also here. Take a look. http://www.fee.org/in_brief/default.asp?id=1838 I'll sum the article up as I understood it. Then you can tell me what you think of it. Economies are complex interactive events with a special ecology impossible for any computerized mathematical model or for human beings to anticipate or predict. Given this fact, the only intelligent manner to 'control' an economy is to not 'control' it. By allowing 'freedom' to the greatest extent possible the entire economic unit in question becomes in and of itself a huge organic intelligent economic problem solver that does anticipate and solve problems automatically. When government interfers with this natural process, most of the time, it is merely impeding progress and creating new problems. That's what I think the guy meant. How about you? Do you think the author of that article is on to something? Do you agree or disagree with him?
4 people like this
4 responses
@ladyluna (7004)
• United States
30 Jan 08
Hello Red, Yup, the guy's absolutely right!!! The only disagreement I may have with him is in regard to his notion that wealth is a fixed rather than variable factor. Based on his swimming pool analogy, he seems to suggest that there is a limited, fixed wealth pool. I can think of no better use of the proposed $150B than for the Feds to empower our geologists to seek out new gold pockets on U.S. soil. I have been so perterbed by this stimulus proposal. I've been pondering what to do about it. Propose that people send it back? Nawww, most people will simply pay a bill with it. Yeah, like that's going to stimulate the economy. Now that the Senate is planning to add even more 'give aways' to the proposed package, I'm cringing all the more. What is most troubling about this proposed stimulus package is the rumors about the shenanigans allegedly going on with the gold reserves. Have you heard the rumors? If there is any truth to Jerome Corsi's latest claims (let's remember that he hit a bullseye warning us about the TransTexas Corridor), then this stimulus package proposal is proof positive that Congress & President Bush either have zero concept of economics, or they are guilty as sin of willfully jeopardizing our national stability. Here's the link to the article about the gold reserve rumors. http://www.worldnetdaily.com/news/article.asp?ARTICLE_ID=59935 When are people ever going to learn??? Now, I would have been jumping for joy if the Federal Gov't had proposed a stimulus package that included incentives for business to expand or upgrade equipment. Or better yet, if the package contained only one proposed stimulus -- a temporary fuel tax reprieve! But no, instead they're offering this hair-brained give away proposal while considering raising the fuel tax! In what world does that make a lick of sense?
• United States
30 Jan 08
"This stimulus package proposal is proof positive that Congress & President Bush either have zero concept of economics, or they are guilty as sin of willfully jeopardizing our national stability." President Bush is a Harvard MBA graduate. He understands economics. What choice is left? As to the gold rumours, these go back to the 1980's when a congressman, whose name I forget, tried long and hard for an honest independent audit of the actual gold being held. He was unsuccessful. This confirmed rumours of gold reserves being phoney for me over 20 years ago. The thing that disturbs me about the stimulus package is that it is not being laughed about and its sponsors ridiculed.
3 people like this
@ladyluna (7004)
• United States
30 Jan 08
Hey Red, If you think of that elected official's name, or can remember a general time frame, I'd love to research the story out. It would be interesting to learn how soon after he was ousted from office, and what the excuses given were to deny the audit inquiry. Do you remember if the official raised any concerns about us "leasing out our gold"?
3 people like this
@ladyluna (7004)
• United States
30 Jan 08
Hey Red, Guess what I just found whilst perusing your older questions? "The American Civic Literacy quiz". Wow, I really had to sift through cobwebs on this one. What a great find. I'm going to happily share this find. And, perhaps it might come in handy in the next Capitalism vs. Socialism debate. http://www.americancivicliteracy.org/resources/quiz.aspx
3 people like this
@Adoniah (7515)
• United States
30 Jan 08
That was the best written article I have ever read on the subject. I especially like that analogy of the bucket of water. The Government has no business trying to run the economy. No bureaucracy should be in charge of the money it is going to be able to tax, collect, and then spend however it chooses. No one can truely picture a billion dollars, much less a trillion. So when the Congress starts tossing these numbers around, they really do not have a true grasp themselves of the reality of what they are doing. Its monopoly money. Its ludicrous. You've got a bunch of folks in there that are just thinking about how they are going to get re~elected When? They only care about their interests. Every time they play with the interest rates I cringe and think why don't they just get on with the tattoos and be done with it? Shalom~Adoniah
• United States
30 Jan 08
Mostly I am in agreement. Too bad there are many who think the guy is probably a kook. The extent of economic ignorance in the USA is revealed in the public perception of the current economic stimulus where they are talking of giving everyone 'free money' (about $500 last I heard). People are for it, and think it would help. Talk about ignorance! I think any such plan, when I was a child, would have been laughed at and the career ruined of whoever proposed it. Times have really changed. Hopefully, the next generation reads the linked article and agrees with it.
4 people like this
@The_Eagle_1 (1123)
• Australia
29 Jan 08
Well me old mate, I think what most people don't except about economics is that you need to make the dollar you are spending or have the means to balance it. When the "money brokers" want to put the money spenders back in their places, they fluctuate the value of the currency so that everything becomes dearer and the money spenders then need to have more dollars to buy the same things they could afford to buy for much less before. All the time the "money brokers" keep racking in the BIG dollars!!
3 people like this
• United States
29 Jan 08
Yes, you are right. Now, how can we get other people to realize it and not borrow money so much? That's the only thing that robs 'money brokers' of their power.
4 people like this
@Destiny007 (5820)
• United States
28 Jan 08
I think the last sentence in that article pretty well says it all. The liberals and socialists among us would not agree however.
3 people like this
• United States
29 Jan 08
Funny thing though is how the liberals and socialists go on about how the free market has failed. I actually read where Hillary has said that. The thing of it is though, it only fails where liberals have put in policies or laws to mess the free market up!
4 people like this