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Strategies & Market Trends : Asia Forum
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To: Mohan Marette who wrote (1495)1/24/1998 12:20:00 PM
From: Tommaso  Read Replies (1) of 9980
 
Just looking at what's gone on around me, I'd say that the Reagan policies on the whole worked very well. There is a lot more economic inequity--there are people with huge houses and more than one vacation house, for example, who do not know what to do with all that useless property. There's a lot of spending on useless luxuries by people with huge incomes, while others are on food stamps. But at the same time a great many more people are at least working at some useful job instead of drawing welfare.

I did not vote for Reagan and I did not support many of his policies and I am envious of all these new millionaires. But I guess I do subscribe to the Hayek view that goverment attempts to direct the economy are even worse, however well-intended. I think people are better off dealing with a greedy boss of a franchise than with a government employee. You can always walk away from the greedy boss but it is harder to walk away from the government.

I do not mouth claptrap about the "dignity of honest labor." But the greatest economic waste of all is unemployment.

I hope that all the countries of the world can establish econimic systems that produce the same results, without damaging the cultural and religious pratcices and values that are indigenous to those countries. Of course, if you have an ethic that poverty is a positively good thing, you have a problem.
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