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Originally Posted by TheDoc
What you've shown is gov intervention slowly solved the problem(s) of a completely unstable, unpredictable, economy. As you pointed out, mistakes, did happen, but what you failed to explained was they did solve issues.
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A 100% free market (something that never existed in American history) is a self regulating system. It punishes (and thus discourages) irresponsible behavior.
Yes, the economy is unpredictable. That is because the economy exists out of individuals with different 'wants', goals, desires. Individuals with different abilities. Individuals that change their minds.
"The Economy" is not some engine you can tinker with. It is not some mechanical thing you can alter to make it run smooth. The economy is organic. The economy constantly changes as the individual transactions that make up the economy are completed, as individuals reach certain goals and set out to reach others, as people come up with new ideas and techniques, as the available resources change, as problems occur and people find ways to solve those problems...
Government intervention never solved anything. It only hides problems and causes others. It is government intervention that causes the bubble and the depression. It is government intervention that reward irresponsible behavior (for example: banks giving out loans to people that won't be able to pay them back).
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intervention gave us 50+ years of stable economy to work with, rather than a full on depression every 10 years or so. Screw how long it takes to get out of one, every 50 years... having 1 every 10 years is far worse, even if they end quickly.
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We haven't had "a stable economy" in those 50+ years. The government has been covering up the problems all that time. And that is what is becoming more and more obvious these days. Government intervention (such as the manipulation of the interest rates) caused systematic malinvestments. When the problem became obvious (think dot com bubble, think housing bubble), the government intervened to cover up the problems.
You can only keep sweeping stuff under the carpet for so long. Eventually people are going to notice. This time, they'll probably come up with another crazy scheme to hide the mess under the carpet, but sooner or later they'll run out of carpet.
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Intervention hasn't decreased...it has gone up every year, non stop... the 40's and 50's are loaded with business regs, we've been doing bailouts for almost 40 years. You would be hard pressed to find a single year over the last 100 that didn't have gov intervention in some way, economically.
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If you compare the New Deal and the period of the second world war to the period directly after the war than there was less intervention after the war than during and before. It's less intervention that allowed for real growth.
If you look at the last 200 years as a whole, you see a steady increase in intervention and it has all culminated to our current situation.
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gov intervention hasn't helped grow us in many ways, then you're hate for the gov blinds you so much that you ignore the facts around you.... as you type on the Internet, the gov paid for, funded, and forced to expand.....
Dirty ass intervention.
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ah, the internet
Did bureaucrats build firefox, chrome, apache, perl, php, facebook, twitter, gfy, thunderbird, youtube, tevs, smarttube, media player classic home cinema edition, virtualdub, flash, vbulletin, bind, openssh, flashfxp, mysql,...?
Gov built a network using resources it took from others. The free market turned the internet into what it is today.
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I know you guys put full faith in the free market, but fact is, the free market is limited more by greed than any gov in the world, greed is why gov's play the game, greed is why regulations are here, greed... driven by people, not governments.
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and governments are made up out of what? Altruistic angels who don't make mistakes and don't want anything?
The free market: everyone has the right to plan for himself while respecting other people's property rights. everyone is free to voluntarily trade with others, to help others,... Your mistakes affect your bottom line.
Government intervention: a small group of people planning for all others. Their mistakes affect everyone.