It’s valuable to remember what economies look like without real prices and the free flow of information, services, and goods.
Why are falling prices bad? The Fed does everything it can to avoid “deflation.” But we have “deflation” in electronics every year, every month, and this increases our general quality of life. Why can’t this happen in other goods?
Is the president really this ignorant of business and economics?
China has been very loose with its monetary policy historically but especially since the Crash in 2008. Its economy is also run (fundamentally) by cronycrats who think they can manipulate the economy to prosperity. (Sound familiar?)
Obamacare was a colossally stupid response to a very real and legitimate problem.
The attached article has absolutely nothing to do with crony capitalism, but has everything to do with free markets and free prices.
Sometimes? I’d say often.
This week Senator Rand Paul, who is likely running for president, suggested that Congress act to pass legislation which would declare Detroit an economic “freedom zone.” That is to lower taxes in Detroit to near 0% levels spurring business activity and development.
We at Against Crony Capitalism wholeheartedly agree with this idea. We even called for something similar last year. Unleash the market in Detroit and the city will bloom.
Few cities have been as ravaged by inept governing and crony capitalism as Detroit has. Because of decades of mismanagement and neglect what was once one of the great cities of the world is now a rusting heap. But it need not remain so.
I have to say that I was saddened by Pope Francis’s recent assertion that “rampant capitalism” is a source of many of the world’s ills.