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Thread: Of the 1%, by the 1%, for the 1%

  1. #21
    Senior Member razz's Avatar
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    Is this what is meant by democracy is really a rotten system of government except for all the others?

  2. #22
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    Quote Originally Posted by alan View Post
    Yes, Mr Stiglitz may hold the distinction as the most quoted economist in the world. I'm even aware of several of his better known theories, one being that free markets must collapse and be replaced by socialism, and another being that the the government can always improve upon the free market's resource allocation.

    Doesn't seem like a "wild eyed liberal" to me.

    I wonder if those theories hold up in the real world?
    Hmm since none of it has anything much to do with the real world it's really hard to say!!

    Without TRILLIONS of dollars of FED subsidies the existing economic system might well have collapsed (TRILLIONS propping up almost every large company imaginable, even trillions of U.S. Federal Reserve money going to British banks!). OTOH the existing economic system doesn't necessarily have that much to do with free markets either.
    If you want something to get done, ask a busy person. If you want them to have a nervous breakdown that is.

  3. #23
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    Quote Originally Posted by razz View Post
    Is this what is meant by democracy is really a rotten system of government except for all the others?
    There is democracy and there is democracy. We'd probably be much better served by proportional representation as a form of democracy. It has very little chance of ever happening of course.
    If you want something to get done, ask a busy person. If you want them to have a nervous breakdown that is.

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