Blah blah blah. Economic theory my ass. Why don't we just admit that our government and business leaders just try and wing OVER AND OVER until some sort of huge nasty world war forces everyone to start over from scratch?
That's the problem with Economics. Before any theory can ever play out, war ALWAYS occurs.
Personally, I think the next world war will be a lot of fun, if we can avoid destroying each other entirely. Most engineering sciences lay stagnant until war prods them into incredibly rapid advancement.. Just think of WWII.. Rockets capable of reaching outer space, jet engines, computers, cryptography, supersonic planes, splitting the atom, uboats and torpedoes.. All really cool and useful things that were originally invented in order to kill the other side's soldiers more efficiently.
Besides, france has been acting pretty snobby lately. It's high time someone invaded them again..
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This is a point that I've been emphasizing for some time. In almost any functional economy, productivity advances are the widespread rule. However, the benefits must be distributed between increased corporate profits, increased real wages or returns to other factors of production, and reduced consumer prices. In a competitive free market, excess rates of profit are temporary and exist only to the extent that a sustainable competitive advantage is maintained. |
