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Depression would have been the correction that a free market capitalist recognizes as a part of capitalism.
What's your fascination with Friedman?
And why do you think there's only 2 people in the entire history of economics whose ideas we should follow?
You're ok with only 2 people's ideas deciding everything that ever happens to this country economically?
Depression would have been the correction that a free market capitalist recognizes as a part of capitalism.
not Friedman??? so what free market capitalist?????????????????????
even Friedman was for intervention so who on earth recognizes what you say????????????????????
What's your fascination with Friedman?
as I said he is capitalism more than anyone in human history
And why do you think there's only 2 people in the entire history of economics whose ideas we should follow?
there are no other ideas to speak of. If you disagree what are these mysterious ideas??????????????????
You're ok with only 2 people's ideas deciding everything that ever happens to this country economically?
as I said there are no other ideas- human history has distilled the economic world into those 2 ideas
Depression would have been the correction that a free market capitalist recognizes as a part of capitalism.
not Friedman??? so what free market capitalist?????????????????????
even Friedman was for intervention so who on earth recognizes what you say????????????????????
as I said he is capitalism more than anyone in human history
there are no other ideas to speak of. If you disagree what are these mysterious ideas??????????????????
You're ok with only 2 people's ideas deciding everything that ever happens to this country economically?
as I said there are no other ideas- human history has distilled the economic world into those 2 ideas
not Friedman??? so what free market capitalist?????????????????????
even Friedman was for intervention so who on earth recognizes what you say????????????????????
as I said he is capitalism more than anyone in human history
there are no other ideas to speak of. If you disagree what are these mysterious ideas??????????????????
as I said there are no other ideas- human history has distilled the economic world into those 2 ideas
You don't really expect him to know about Austrian economics, do you?
Brutus wants only the upside of capitalism, and wants to avoid the inevitable downsides of it to the extent of supporting government intervention during a business cycle to try and avoid it at all costs.
News flash Brutus: Capitalism comes with pleasure AND pain.
There is always a loser in capitalism, or else no one could be a winner.
Deal with it and accept it, or admit you're not a true capitalist.
I don't really care either way.
Not necessarily by name, but I expect most people realize that Friedmanites and Keynesians aren't the only schools of thought around. What about the Marxists? He has to know about them.
Not necessarily by name, but I expect most people realize that Friedmanites and Keynesians aren't the only schools of thought around. What about the Marxists? He has to know about them.
Friedman was an Austrian!! The differences are merely differences within the family. Marxism largely died with 120 million dead people in the USSR and Red China. Now Wen Jiaboa comes here to proclaim his respect for Smith and Friedman
Not necessarily by name, but I expect most people realize that Friedmanites and Keynesians aren't the only schools of thought around. What about the Marxists? He has to know about them.
Friedman was an Austrian!! The differences are merely differences within the family. Marxism largely died with 120 million dead people in the USSR and Red China. Now Wen Jiaboa comes here to proclaim his respect for Smith and Friedman
Friedman was not an Austrian, and if you think the Marxists went away after the collapse of the Soviet Union you're sadly mistaken.
I find it really interesting that there's all these "free market capitalists" on here who support TARP.
capitalism does not mean you can't support your kid while he is young. Tarp was better than depression-case closed. Feeding your kid is better than letting him starve to death
Not necessarily by name, but I expect most people realize that Friedmanites and Keynesians aren't the only schools of thought around. What about the Marxists? He has to know about them.
Friedman was an Austrian!! The differences are merely differences within the family. Marxism largely died with 120 million dead people in the USSR and Red China. Now Wen Jiaboa comes here to proclaim his respect for Smith and Friedman
Brutus wants only the upside of capitalism, and wants to avoid the inevitable downsides of it to the extent of supporting government intervention during a business cycle to try and avoid it at all costs.
News flash Brutus: Capitalism comes with pleasure AND pain. There is always a loser in capitalism, or else no one could be a winner.
Deal with it and accept it, or admit you're not a true capitalist. I don't really care either way.
Of course it's the government interventions that cause the downside that Brutus wants the government intervention to solve.
Not necessarily by name, but I expect most people realize that Friedmanites and Keynesians aren't the only schools of thought around. What about the Marxists? He has to know about them.
Friedman was an Austrian!! The differences are merely differences within the family. Marxism largely died with 120 million dead people in the USSR and Red China. Now Wen Jiaboa comes here to proclaim his respect for Smith and Friedman
I think this is fair. Freud's Narcissism of Small Differences and all that. It's kind of like differentiating between Fabians and Trotskyites.
Friedman was an Austrian!! The differences are merely differences within the family. Marxism largely died with 120 million dead people in the USSR and Red China. Now Wen Jiaboa comes here to proclaim his respect for Smith and Friedman
I think this is fair. Freud's Narcissism of Small Differences and all that. It's kind of like differentiating between Fabians and Trotskyites.
They may be small in some sense, as Friedman may have been mostly for the free market, but they were rather drastic differences in actuality. The Austrian position on the Federal Reserve and Friedman's position, for example, would lead to very different outcomes.
The thing about Keynesian economics is that in good times you were supposed to cutr back on gov't spending and pay down your debts. Dems seem to leave that part out. And repubs too, to be fair.
Sure doesn't look like priming the pump so to speak for increasing demand is working. Maybe if we didn't have such anti-business, anti-growth policies in place, things might be different.
Well it's the Fed that caused the recession, but it's true that Obama's prolonged it with his policies.
the Fed with a huge assist from Fanny Freddie who bought the mortgages and so gave the banks even more to lend.
Its more accurate to simply say liberalism caused the recession.
I think this is fair. Freud's Narcissism of Small Differences and all that. It's kind of like differentiating between Fabians and Trotskyites.
They may be small in some sense, as Friedman may have been mostly for the free market, but they were rather drastic differences in actuality. The Austrian position on the Federal Reserve and Friedman's position, for example, would lead to very different outcomes.
Not necessarily. Friedman generally agreed that inflation was a monetary problem.
Well it's the Fed that caused the recession, but it's true that Obama's prolonged it with his policies.
the Fed with a huge assist from Fanny Freddie who bought the mortgages and so gave the banks even more to lend.
Its more accurate to simply say liberalism caused the recession.
Everyone is entitled to his own opinion, but not his own facts.
Daniel Patrick Moynihan
Utter bullshit. How can we possibly make the proper changes moving forward, when a segment of the population has no clue as to how we got in this mess.
Private sector loans, not Fannie or Freddie, triggered crisis.
* More than 84 percent of the subprime mortgages in 2006 were issued by private lending institutions.
* Private firms made nearly 83 percent of the subprime loans to low- and moderate-income borrowers that year.
* Only one of the top 25 subprime lenders in 2006 was directly subject to the housing law that's being lambasted by conservative critics.
Between 2004 and 2006, when subprime lending was exploding, Fannie and Freddie went from holding a high of 48 percent of the subprime loans that were sold into the secondary market to holding about 24 percent, according to data from Inside Mortgage Finance, a specialty publication. One reason is that Fannie and Freddie were subject to tougher standards than many of the unregulated players in the private sector who weakened lending standards, most of whom have gone bankrupt or are now in deep trouble.
During those same explosive three years, private investment banks not Fannie and Freddie dominated the mortgage loans that were packaged and sold into the secondary mortgage market. In 2005 and 2006, the private sector securitized almost two thirds of all U.S. mortgages, supplanting Fannie and Freddie, according to a number of specialty publications that track this data.
