skeeter,
>>quite being as vague and give dates. you've figured out if you aren't specific, it is much more difficult to challenge your assertions.<<
Look at the centuries before we had a Fed, New Deal, and Great Society etc... The role of government was more or less limited to a handful of things outlined in the constitution. We had much freer markets, made rapid economic progress, had a sound currency etc... The occasional economic ups and downs (inflation/recession) were the result of minor problems in the banking and monetary system and random events. Instead of fixing those problems at their core we socialized banking and expanded government. As a result, we caused a great depression. Then, instead of fixing the underlying problem, we expanded government even further, expanded the power of the existing institutions, created new ones to socialize the risk further, and created a progressively more unstable international and domestic monetary and banking system. We've debased the currency and continue to do so.
Naturally standards of living were lower back then, but that's because of all the progress capitalism has made in the last 100 years or so DESPITE all the unsound policies of the last century or so. |
