Formerly About Advanced Micro Devices Message Board

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Politics : Formerly About Advanced Micro Devices

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To: TigerPaw who wrote (190164)	6/14/2004 7:54:58 PM
From: TimF	Read Replies (2) of 1576223

government actions like rising tariffs Those actions were all in response to the real problem. They where a major cause of the problem. The industrial mega-factories had the capacity to generate more goods than the consumers were ready to consume. If too much is produced the price goes down to increase demand and decrease supply. The resources that where producing too much of one thing go to produce another. All of this causes disruption but not a decade long depression. Similar sharp downturns had occurred a number of times before the depression. But there was not a combination of increases in tariffs, higher income taxes, and tighter money in response to the economic downturn, nor was their the vast increase of government control over the economy in earlier "panics" and "depressions". You didn't have the government ordering food destroyed or sending people to jail for providing a discount. Not only where such actions abusive and bad policy they where also ill timed. Destroying wealth and strangling commerce with regulation when things are going bad anyway is a disastrous policy. Tim

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