tag:blogger.com,1999:blog-3758330678390419129.post3739324977621020390..comments2024-02-13T02:39:22.756-05:00Comments on EconomicPolicyJournal.com: Larry Summers Distorts CapitalismRobert Wenzelhttp://www.blogger.com/profile/14296920597416905488noreply@blogger.comBlogger12125tag:blogger.com,1999:blog-3758330678390419129.post-57104352994315978932012-01-24T10:51:08.345-05:002012-01-24T10:51:08.345-05:00So let me get this straight "The problem is [...So let me get this straight "The problem is [wages] they have stagnated or fallen measured relative to the price of housing, health care, food and energy or education.".<br />"The difficulty is that in many of these areas the traditional case for market capitalism is weaker. It is surely not an accident that in almost every society the production of health care and education is Michael Pricehttps://www.blogger.com/profile/15165217176329724686noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-26588641814723873292012-01-24T10:29:05.103-05:002012-01-24T10:29:05.103-05:00"It is surely not an accident that in almost ..."It is surely not an accident that in almost every society the production of health care and education is much more involved with the public sector than the production of manufactured goods. "<br /><br /> Well of course it wasn't an accident it was deliberately planned and coordinated for years. What Mr. Summers is trying to imply here is that because it happened everywhere it Michael Pricehttps://www.blogger.com/profile/15165217176329724686noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-91270242434349232542012-01-21T11:56:30.052-05:002012-01-21T11:56:30.052-05:00"Americans have traditionally been the most e..."Americans have traditionally been the most enthusiastic champions of capitalism. Yet a recent American public opinion survey found that just 50 per cent of people had a positive opinion of capitalism while 40 per cent did not." <br /><br />That's the opening line from Summers' article. Is it any surprise that people hold a negative opinion of capitalism when they are living Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-79020725062003310292012-01-21T11:47:44.134-05:002012-01-21T11:47:44.134-05:00"Unlike cyclical concerns there is no obvious..."Unlike cyclical concerns there is no obvious solution at hand."<br /><br />It's not obvious to him because the solution will involve forcing him to get a real job!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-27719275475656982612012-01-20T19:25:44.454-05:002012-01-20T19:25:44.454-05:00More relevant Mises quotes:
"The regular sch...More relevant Mises quotes:<br /><br />"The regular scheme of arguing is this; A man arbitrarily calls anything he dislikes 'capitalistic,' and then deduces from this appellation that the thing is bad."<br /><br />"The concept of capitalism is as an economic concept immutable; if it means anything, it means the market economy. One deprives oneself of the semantic tools to Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-78357510244621650802012-01-20T15:05:37.223-05:002012-01-20T15:05:37.223-05:00Summers is such an establishment a**hole. And as e...Summers is such an establishment a**hole. And as everyone, including himself (who is also one of the 1 percent he tries to lament), who are a direct cause of the problem, always deflect attention away from where the 'real problems' lie....and are also where his paycheck comes from. The problem is the FED-government banking system and Big Government. Free banking, commodity-based money, Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-42482506907724023602012-01-20T15:02:02.196-05:002012-01-20T15:02:02.196-05:00Larry should stick to pension fund investing.
Oh,...Larry should stick to pension fund investing.<br /><br />Oh, wait, that did not work out too well, either.<br /><br />Nevermind.John G.https://www.blogger.com/profile/09127952173210718830noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-59169074320881454892012-01-20T14:16:21.077-05:002012-01-20T14:16:21.077-05:00This is the typical arrogant thinking that comes f...This is the typical arrogant thinking that comes from academia that has pretty much abandoned reality. Its the old saying that "in theory the markets should work this way but in reality they do not." Guess what, if your theory does not work in reality, then its an invalid theory -- like most of mainstream economic theory. <br /><br />As for the dishonest discussion going on around the Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-89784605532152966182012-01-20T13:40:48.091-05:002012-01-20T13:40:48.091-05:00God these guys are so full of it- using capitalism...God these guys are so full of it- using capitalism to describe corporatism and then criticizing the system to undermine it with more intervention. Remember this great Mises quote:<br /><br />“As a rule, capitalism is blamed for the undesired effects of a policy directed<br />at its elimination. The man who sips his morning coffee does not say, “Capitalism has brought this beverage to my James E. Millerhttps://www.blogger.com/profile/17915979762298347210noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-51426566282443864522012-01-20T12:48:58.541-05:002012-01-20T12:48:58.541-05:00"The difficulty is that in many of these area..."The difficulty is that in many of these areas the traditional case for market capitalism is weaker. It is surely not an accident that in almost every society the production of health care and education is much more involved with the public sector than the production of manufactured goods."<br /><br />Here in Britain it's no accident, but the state made it that way. Propaganda, willPete Moorenoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-72609385522801145152012-01-20T11:56:50.293-05:002012-01-20T11:56:50.293-05:00I'm not sure why I'm amazed at the utter i...I'm not sure why I'm amazed at the utter ignorance of a government boob, yet still it is befuddling just how some of these people made it in the real world....oh, I forgot they didn't make it in the real world!Republicaehttp://militantjeffersonian.comnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-84466842828048721262012-01-20T11:54:00.250-05:002012-01-20T11:54:00.250-05:00Capitalism?
The U.S. is a picture-perfect example...Capitalism?<br /><br />The U.S. is a picture-perfect example of corporatism or fascism.<br /><br />Even if the State owned and controlled everything under the sun, and private property was completely abolished, they'd find a way to blame capitalism.Chris Rossinihttps://www.blogger.com/profile/02986002946096496906noreply@blogger.com