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Strategies & Market Trends : Currencies and the Global Capital Markets

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To: Yorikke who wrote (3030)2/19/2001 5:13:28 PM
From: Hawkmoon  Read Replies (1) of 3536
 
Don't misunderstand me Yorikke... There is a place for government participation in the economy. In fact, sometimes ONLY THE GOVERNMENT can do the things that will lead to economic growth.

There are many examples of this such as the Interstate system, space program, airlines,... etc. I would even submit that a social security network for indigent, or financially destitute people is certainly a must have in a civilized state. Essentially, the government must step in where there is private market failure and either create the conditions where the private market can now work, or create a public program that meets that requirement for society's welfare.

That said (since I'm no libertarian), the inherent structure of government funded programs mean that once set upon to fill a need, if even only temporary, that agency will seek to expand its budget and regulatory influence. Government agencies have few mechanisms, outside of congressional mandates, for curtailing their expenditures.

Thus, giving the government more money in its budget, whether through direct taxes, or by way of misallocated surplus revenues earmarked for future liabilities, is like giving an heroin user more drugs in hope they will get sick and realize they need to cut back. I mean, let's face it... larger budgets mean more positional authority and prestige for the head of each respective agency.

A prime example is the previous welfare system that the liberals instituted. There was very little "coercion" involved in making people earn the support that the state was providing, when possible. Some people seem to think that there are those people who are born into poverty who will never escape from it without being put on the public dole.

However, there are others who know the truth... that many of our parents grew up in poverty, NEVER TOOK A DIME from the government, and who realize that ALL OF LIFE IS A STRUGGLE. When we cease to struggle for a better life, or no longer feel shame when we becomes wards of society, then we become slaves to that society.

And furthermore, that society will enslave us by convincing us to believe that we're not good enough to succeed without government assistance.

Yeah.. pretty heavy words and slightly dogmatic, I know.. But the man point is that our society should take care of those who absolutely can't take care of themselves, while PROVIDING OPPORTUNITY for those who are honesty seeking to better their conditions.

For the others, who are able, BUT UNMOTIVATED, to contribute to society and the overall economy, I suggest they go and live with their parents or Aunts and Uncles.

I'm sure they will be FAR LESS INCLINED to provide welfare.

Overall, I think I'm being pretty commonsensical about it all. No one enjoys seeing tax money being thrown after unprofitable or wasteful ventures.

Regards,

Ron
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