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Capitalsm works, social engineering doesn't

SMN Herf

Well-known member
An article I ran across this morning for those who beleive that capitalistic greed is the culprit for the housing crisis and the current economic downturn the US is in. Its the social engineering that creates these bubbles and the bursts. A properly functioning market will always correct itself, but if anyone thinks that the US economy can be run from Washington DC they are fooling themselves.

http://sibbyonline.blogs.com/sibbyonline/2008/11/blame-social-engineers-not-capitalists.html
 

jodywy

Well-known member
econ 101.... a market is supply ans demand...emotion figures in but with time supply and demand will correct for the emotion.
 
A

Anonymous

Guest
jodywy said:
econ 101.... a market is supply ans demand...emotion figures in but with time supply and demand will correct for the emotion.

We haven't had a true supply and demand capitalistic market in the US, since 1789- when Treasury Secretary Alexander Hamilton singled out the carriage and whiskey industries as those to pay the war debts we had-- Congress passed the tax- and George Washington signed the law....

Since then government has had an effect on the direction of all commerce in the US...
 

jodywy

Well-known member
Oldtimer said:
jodywy said:
econ 101.... a market is supply ans demand...emotion figures in but with time supply and demand will correct for the emotion.

We haven't had a true supply and demand capitalistic market in the US, since 1789- when Treasury Secretary Alexander Hamilton singled out the carriage and whiskey industries as those to pay the war debts we had-- Congress passed the tax- and George Washington signed the law....

Since then government has had an effect on the direction of all commerce in the US...

Taxes on the supply side get added into the price... if price is too high demand goes down supply goes down and tax collection goes down.. the market will correct for taxes or any other wigget thrown into the supply side, with increase or decrease in demand
 
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