Quote:
Originally posted by Maritime Q-Scout@Aug 23 2004, 04:40 PM
I'd just like to make an apology and admit a flaw in my own logic. Flame of Liberty, you're arguing father right than I thought.
against things such as social security, minimum wage, abritration in union standstills, and providing electric power?
Yep, you're right, if you want a 100% pure laissez-faire economy then the depression would have been over sooner (in theory, as again they didn't know then what we know now, the short article implies they did).
But some of those things listed are very good things, things I would say every government needs: minimum wages for it's citizens, social security to help ensure people aren't living and dying on the streets, in Canada a healthcare system that doesn't look at money first - problem second.
In theory you are right, government intervention isn't a good thing, but in reality is provides alot of good, and good I'd say we need. Government does ALOT of good in the economy, and it does balance out the business cycle, helping to prevent high-highs, and low-lows.
Did I say everything FDR did was right? Nope, they were in a depression for HOW long? But I did like the make work projects, which is what I was basically referring to in the "new deal" as well I kept citing the make work projects, again I wasn't 100% clear on that, and I do apologize.
In theory, Flame of Liberty is right, but in reality a 100% lassiez-faire economy is a scary thing, IMO.
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Yes I am against welfare state, yes I am against minimum wage (which causes unemployment by the way, one thing left is very worried about I wonder why do you think minimum wage is a good idea? Who`s gonna employ people whose productivity is below minimum wage?)
But come on where did I say I`m against providing electric power? I am against state owned electrical (or any other) companies. I`ve argued zillion times on this board why. You tell me why should gov own electric plants? And why not bakeries, newstands, factories too? Why not everything else?
You tell me why do you think any goods and services should be provided by the government?
And as for the business cycle and the gov balancing it - I really suggest reading the book, it is explained in depth that government (or central banking) cannot do and does not do no such thing, in fact government and central banks are responsible for creating business cycle (by issuing fiat money thus causing inflation, balooning depth, messing with interest rates and otherwise interfering with the market).