Great Depression - Hoover's anti-trade policies and the Fed's artificially low interest rates had a lot to do with this, yet its constantly cited as "proof" that free market capitalism doesn't work. What about the government intervention that contributed? Do we have proof that they failed too?
Bush - Oil prices are up, inflation is up, food is up, housing is a mess, and the world is angry at us and insecure about the future of our investments. Why? Well, because he spent too much money using the government to interfere with the economy!
So, if a Socialist Government calls itself Capitalist and then fails, is that good proof of the failure of Capitalism ... or of the failure of Keynesian Socialism?
2007-12-04
01:16:14
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16 answers
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asked by
freedom first
5
in
Politics