Home | About Us | Our Advertisers | Contact | Subscribe
Business news without the bullshit
The War on wages Part 2
How the Conservatives aim to Help Minorities Economically
IS THE RIGHT RIGHT?
We have seen how real wages have been falling in relation to production for 3 decades. We know that poverty has been exploding. So what is the solution?
The Republican conservatives are putting forth the doctrine of free market economics as the answer to all problems economic. Would it work?
Economics tells us that free markets are by far the best way to create and distribute goods. It encourages entrepreneurship and innovation, the bedrock of progress. But experience tells us that without regulation, wages and standard of living falls, and legislation is manipulated to bring short term profits at the expense of all long term positive goals. Eventually both innovation and entrepreneurship are strangled as the economy becomes terribly erratic and stagnates.
By leaving out the reality of how free markets play out among real people, it's faux logic can seem to be the answer to every problem.
Ofcourse, those who seek to regulate, seem to do as bad a job as those who seek to allow businessmen to follow their bliss. So we find ourselves in a fine mess praying for wisdom to find its way into government.
For more Media con artists videos, click here
See the complete catalog of
real econ tv videos
The content on this site is provided without any warranty, express or implied. All opinions expressed on this site are those of the author and may contain errors or omissions.
NO MATERIAL HERE CONSTITUTES "INVESTMENT ADVICE" NOR IS IT A RECOMMENDATION TO BUY OR SELL ANY FINANCIAL INSTRUMENT, INCLUDING BUT NOT LIMITED TO STOCKS, OPTIONS, BONDS OR FUTURES.
The author may have a position in any company or security mentioned herein. Actions you undertake as a consequence of any analysis, opinion or advertisement on this site are your sole responsibility.