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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: i-node who wrote (739614)	9/15/2013 6:58:52 PM
From: Road Walker	Read Replies (2) \| Respond to of 1578230

It hasn't always been that way. Markets in the US were relatively free up through the 50s and even in the early 60s. Not totally free, but compared to today. The minimum wage was not intrusive, regulation was more reasonable, and the economy grew like gangbusters. False, but still doesn't address the point. The most successful countries in the world have the largest central governments, and the most regulation. The least successful countries in the world have little effective regulation, poor rule of law and corruption. This is reality, not ideology. Simple observation.

To: i-node who wrote (739614)	9/16/2013 2:06:13 PM
From: combjelly	Read Replies (2) \| Respond to of 1578230

And taxes were much higher and unions much stronger. Markets were more competitive back then. More smaller players and fewer huge ones. But, as markets became less competitive and wealth more concentrated things started to slow down. Adam Smith nailed this centuries ago. Our economy has come to be dominated by rent seeking. Those type of economies are almost as inefficient as command economies for similar reasons. In both, production and wealth creation are secondary to more arbitrary goals. Sooner or later growth starts to falter and the economy grows moribund.