SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : ahhaha's ahs
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: frankw1900 who wrote (2255)5/16/2001 10:57:45 AM
From: gpowellRead Replies (2) of 24758
 
The combined effect of fiscal and monetary policy was designed to "wring speculative excesses from the stock and real estate markets" (Central Intelligence Agency, 1997). The policies were very successful but only at the cost of the country's overall economic well-being.

The operation was a success, unfortunately the patient died.

The best institutions adapt quickly to these constant changes. And still the transition from one set of institutions to another imparts inherent fragility precisely because the adjustment process ventures into the unknown. The pallet of "uncertain" events grows with the adjustment process. And yet that does not imply hopelessness and defeatism, as many latter day laissez-faire preachers seem to suggest. Rather, it demands a more vigorous and creative attempt to design better economic institutions. This is where economists should direct the brunt of their intellectual energy, as Paul Davidson and a whole tradition of American and Canadian Institutionalists and Keynesians have repeatedly suggested.

F. A. Hayek responds:

To suppose that we, by exercising our reason can eliminate any remaining undesired features of our market system, and by still more intelligent reflection, and still more appropriate design and rational "coordination" of our undertakings create stable predictable growth, is the height of pretense to knowledge. This leads one to be favorably disposed to the central economic planning and control that lie at the heart of socialism. The Fatal Conceit: The Errors of Socialism

At the limit of efficiency the "best institution" is the free market.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News