axt113 said:
mrstickball said:
axt113 said:
mrstickball said:
Final-Fan said:
mrstickball said:
Could you provide examples in the US that the private market has had periodic catastrophe |
Seriously?
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Please quote the rest of my statement.
Please provide a few examples that government intervention in the private sector was the only way out of the mess.
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The great Depression, nothing the private sector could do would have been big enough, the gear up for the war was led by the government, and it was that war footing that pulled us out.
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Ah, but as soon as the war ended, GDP dropped 25% in a matter of months.
Had Bretton Woods not of increased American exports by 300% in a year, I believe that we wouldn't be having this conversation, as exports helped ensure we had a glut of jobs after WW2.
I'd also mention that the reasons behind the Great Depression were mostly government related...Smoot-Hawley and the federal reserve's monetary policy caused wealth to be destroyed...Not a great sign of governments being the greatest when it comes to keeping the economy afloat.
I digress, the Great Depression is one of, if not the only, examples of government spending helping us get out of tough times. However, again, I will cite the correlation of the rapid rise of American exports after WW2 as being a huge factor in saving us, post-WW2, just like how Smoot-Hawley destroyed our economy, by diminishing exports by 66% over a 3 year period.
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Well first off, that's what you get when you let the GOP have too much control, bad economic policies, smoot and hawley were both repubs, and now you want repubs back in control, after what happened under Bush and the GOP congress, makes me wonder about the intelligence of most GOP supporters.
Also, while Government action did play a role, you're ignoring all the private market reasons for the depression, poor banking structure, over-leveraging, Animal spirits in the market causing people to overreact making the situation far worse.
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Outside of people being allowed to fail and being removed from the marketplace, and failure being a purging mechanism, I fail to see how individuals working in corporations acting any smarter than those in government. Is there something magic by saying it not being done by government that intrinsically makes things better? Look at the comic strip Dilbert, and then answer how that is a sign of genius being in the private sector. Scott Adams of Dilbert gets his material from people in the private sector at this point. My personal experience in the private sector was that I had a manager tell me that the higher ups in the corporation made him be the Dilbert manager from time to time.
By the way, I said the above, knowing that the government is fairly horrible at doing anything.
