Originally posted by Jerome Scuggs
View Post
I got news for you, the USA isn't the world, and considering the USA is probably doing among the worst of the developed world right now AND has the most 'economic freedom' and the least 'socialism', maybe that's a sign that more of the so-called free market isn't always the best idea.
Here's a fun way to look at things. Before there was any regulation in the markets, before there was the Fed, before we got off the gold standard, there were boom and bust cycles every 5-10 years in the USA. By boom I mean 20% GDP increase, by bust I mean 15-20% GDP decreases. The world was much less sure, and much less secure. Sure, eventually the trend was that things slowly got better, but inbetween there were also a TON of really horrible years. The entire point of social systems is to decrease those horrible years, and I believe that they have helped alieviate a lot of those problems that the free market never came close to solving the USA's first 150 years of existance.
Comment