| ManusJustus said: Republicans do not understand economics as well as they would like everyone to think they do. America got out of a recession with government projects (New Deal), South Korea subsidized their automobile industry until it was mature enough to compete on the global market, just examples of how government involvement has done a lot of good, something hardcore capitalists ignorantly think of as blasphemy. Market failure ring a bell? The fact people dont understand that your economic situation is almost entirely dependent on that of your neighbor's baffles me. You might make a lot of money as the owner of a Porsche dealership, but if everyone around you cant afford a nice car then you are headed down poor street too. |
You conveniently fail to mention that government intervention in the economy has also done some negative things. In regards to New Deal projects ending the Depression, I vehemently disagree with that sentiment. The New Deal policies actually prolonged the Depression. Such policies as the National Industrial Recovery Act caused wages to stay artificially high and prevented firms from hiring. Government intervention in the economy contributed to the onset of the Depression. The Smoot-Hawley Tariff was a disaster and so were most of the economic policies of the Hoover administration. That the New Deal is in essence an extrapolation of Hoover's policies does not bode well for it. The rest of your post is confusing and prevents me from replying.
