[quote=livinincali][quote=briansd1]
I don’t agree with you that we need a depression because debt and money are just human creations. Why should we let a bottleneck in the system bring human production and ingenuity to a halt? We can develop ways to overcome a systemic failure and avoid human suffering. That’s where Krugman can offer his expertise.[/quote]
I honestly don’t think that solution exists. The Marxism solution of from each by ability to each by need has been tried in countless societies and it’s always ended up in failure. I’ll admit that on paper it sounds like a valid solution but sometimes theories are just theories and don’t work in a practical application.
The human competitive spirit just gets in the way too much. Maybe we can’t control the natural selection/evolution process. Nature is going to pick the winners and losers and we can’t do anything about it. I argue that it’s better to let nature take it’s course rather than preventing it from acting. It’s eventually going to win and the more you do to prevent it the worse it’s rage is.[/quote]
WINNER. Spot on post. The Left has argued, ad nauseam, that, in theory, their solutions will work. As you correctly point out, there is a huge gap between theory and practical application.
Lack of realistic policy, combined with lack of political will, has led Europe to the brink. And it’s not over yet.
Poorgradstudent correctly asserts that now would be the time to spend on infrastructure, especially given the cheap cost of funds. But, again, theory meets reality in the sense that the US public works program(s) simply aren’t geared to get projects off the ground that fast and there weren’t sufficient projects (or the right types of projects) in the pipeline to begin with (“those shovel-ready jobs weren’t all that shovel-ready”).
There’s a great expression: “Overtaken by events.” At some point, the various governments will run out of bullets, and the market will fully assert itself. And then, what will happen will happen.
