History Is On The Side

Gore Vidal, The American Writer, Once Described The American Economic System As 'free Enterprise For The Poor And Socialism For The Rich'. Macroeconomic Policy On The Global Scale Is A Bit Like That. It Is Keynesianism For The Rich Countries And Monetarism For The Poor.

It's Not Just About The Current Economic Environment. History Shows That Slashing Budgets Always Leads To Recession.

Democracy And Markets Are Both Fundamental Building Blocks For A Decent Society. But They Clash At A Fundamental Level. We Need To Balance Them.

Low Inflation And Government Prudence May Be Harmful For Economic Development.

If We Are Really Serious About Preventing Another Crisis Like The 2008 Meltdown We Should Simply Ban Complex Financial Instruments, Unless They Can Be Unambiguously Shown To Benefit Society In The Long Run. This Is What We Do All The Time With Other Products-drugs, Cars, Electrical Products And Many Others.