John vs Muirgeo on Economics
What solutions do you propose to resolve the current economic problems our country faces?
posted by muirgeo @ Thursday, June 10, 2010
What solutions do you propose to resolve the current economic problems our country faces?
posted by muirgeo @ Thursday, June 10, 2010
2 Comments:
I would suggest we need another stimulus and a jobs program. The average consumer has little money to spend and thus the economy is stagnant.
If we don't figure out a way to increase consumer demand and spending we could be in for a long economic slump.
Consumer spending represents 70-80% of all economic activity. Jobs and wages need to increase or things won't get better. We got here because we set up an economy that allowed for massive concentration of wealth at the expense of wages. Real demand dropped and was subsidized only by massive borrowing which further concentrated wealth and finally ended in collapse of demand and subsequently of the economy overall.
This stuff makes sense to me John. I don't see any flaw in the logical side of this argument and it fits with the facts.
MWG linked to this;
http://www.freetheworld.com/2009/reports/world/EFW2009_ch1.pdf
That thread was getting a bit narrow.
Ok so on that link can you think of any other indicators they might have put in there to evaluate economic freedom? Think really hard about your answers. Try thinking like me... what would I maybe put in there as additional indicators of economic freedom that might be reasonable.
I would really like it if you'd post to my blog so we can have an ongoing discussion.
I'll repost this there if you want to prolong this discussion.
http://ablankspotonthemap.blogspot.com/
In the latest post titled , "John vs Muirgeo on Economics" .
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