Monday, January 23, 2006

Economic Growth

Its a matter of choice.
Foreign Affairs - The Ethical Economist - Joseph E. Stiglitz: "Economists have long been a
natural constituency in favor of growth. Since even the richest country has limited resources, the central economic problem is choice: Shall we fund tax cuts for the rich or investment in infrastructure and research and development, war in Iraq or assistance for the poor in developing countries and our own? By providing more total resources, growth should, in theory, make these choices less painful."

1 Comments:

At Saturday, December 30, 2006 2:04:00 PM, Anonymous Dallas dude said...

Welfare and or transfer payments to millionares/billionares. Government is used as a tool when they build stadiums/arenas for the private sector. Its not the question of letting the free market forces decide, but rather which private enterprise can put their hands into the governments income. Only a fool would think that lobby money has a lesser impact than the ballot box. From the onset this government has and continues to do the funding for research which fuels the capitalist system. Nano and Genetic research were funded by government funds. After when there seen as profitable does the private sector get in and refine a marketable product/service. Composites,teflon,velcro, and many others are good examples of the gov't research being put to work. NASA, defense spending, and university research grants have had grteat impacts in the creating of jobs/wealth. The bottomline is where does all the influence and lobbying stop? Decisions should be made for the masses rather than the few who have money/power.
Milton and the economic world have been in that ivory tower for so long and have yet to realize that little if anything is controled by market forces.

 

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