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Re: economics
Posted by Tim (more from Tim) on Thu, 8 Jul 2010 12:39:18
In Reply to: economics, James, Thu, 8 Jul 2010 09:27:52
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IMHO, the down turn in Canada is just beginning. Few will be praising the Canadian central planners a year or two from now.
The problem with Keynesianism is the impossibility of objective recognition of "good time" vs. "bad time." Any human being with any political sense would tend to strive for "better time," thereby classifying present time as "bad time" by default. The result is over-stimulation during relatively minor glitches, without letting the mal-investments to correct themselves, until the mal-investment accumulate to such an enormous extent that the whole system breaks down. The dynamics is rather similar to fighting forest fires: decades of putting down small fires (political necessity as someone's lives and properties are threatened even during minor fires) lead to the build-up of so much tinder that a huge fire burning down an enormous swath becomes inevitable.
BTW, there's something wrong with blaming the failure of central planning money on managers instead of on the system. It's like saying communism didn't work only because they did not have wise selfless planners or absolute monarchy did not work because the king was not wise. Systems like that are inherently unstable and prone to failures, not to mention prone to attract the worst scoundrels just because power corrupts.
posted by 71.184.95...
Posts in this Thread:
- Psychic moved in next door - do people really go!?, Craig, Tue, 6 Jul 2010 18:29:50
- Wow, tons of responses!, Craig, Thu, 8 Jul 2010 11:42:18
- I have a theory, TML
, Wed, 7 Jul 2010 09:41:19 - Psychics are proof that some people, Noel, Wed, 7 Jul 2010 05:08:37
- Re: Psychic moved in next door - do people really go!?, Scott Paterson
, Tue, 6 Jul 2010 19:58:48 - Re: Psychic moved in next door - do people really go!?, 93Gator, Tue, 6 Jul 2010 19:08:54
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