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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: TigerPaw who wrote (5068)	11/10/2005 2:03:02 PM
From: TimF	Read Replies (1) \| Respond to of 541427

"Unfettered capitalism" allows for booms and busts, but they are going to happen anyway. Neither the federal reserve nor congress has repealed the business cycle. They can act to shorten or lessen the swings in the cycle, but their actions (including their actions to shorten or decrease the wild swings) can also lengthen the swings and/or increase their intensity. And example of this in action is the great depression and government and fed responses to it. Economic efficiency is of course not the only goal. But inefficiency for its own sake should never be a goal. We might have to give up a bit of efficiency for some other goal, but inefficiency is not something to be desired. And greater economic efficiency and growth helps produce the wealth required to achieve other goals, so we should be very careful about deliberately doing anything with the projected result of reducing either. Walmart might seem to be a good idea, and it is for a few people, but for a society it is a recipe for disaster. That's just silly. Tim