tag:blogger.com,1999:blog-2761684730989137546.post8557132707933909526..comments2024-03-29T02:19:19.866-04:00Comments on Mike Norman Economics: James Madison on democracymike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger9125tag:blogger.com,1999:blog-2761684730989137546.post-57332961641180290752013-05-27T14:58:04.845-04:002013-05-27T14:58:04.845-04:00No, Paul. The universal restitution would be a on...No, Paul. The universal restitution would be a one-off, combined with fundamental monetary reform.<br /><br />And I have nothing against purely private credit. But a government-backed credit cartel? A thousand times No!Anonymoushttps://www.blogger.com/profile/13859046687902645077noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-61730616362358113682013-05-27T14:37:43.486-04:002013-05-27T14:37:43.486-04:00F.Beard,
If what you are saying is...give everyon...F.Beard,<br /><br />If what you are saying is...give everyone a savings account to start out with...I don't see any possibility of such a thing ever happening.<br /><br />If it somehow did happen, after that money was spent, we would be right back where we started from...needing credit to fund long-term investments, either business or personal.<br /><br />The top end of town would still end up with all the cash...that's THE feature of capitalism, not a bug.<br /><br />Credit is an essential part of a capitalist system. Credit helps smooth out the bumps.<br /><br />The big thing wrong with the way we do it is a poorly managed distribution system (wealth-wise).<br /><br />That's what progressive taxation does for the system...we have been making it less progressive for decades...and reducing the bargaining power of workers to boot...<br /><br />...which is how we got to where we are.<br /><br />How can anyone be surprised with the outcome?<br /><br />Giving everyone a pile of money isn't going to change anything over the long term.<br /><br />Unplugging the TV won't make the picture better...and giving it jolts of electricity won't do it either. It needs a constant flow of electricity that meets the needs of the TV subsystems to function properly. <br /><br />Flow, not jump-starts.paul melihttps://www.blogger.com/profile/04604543110795683837noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-4661299419955611722013-05-27T12:17:55.987-04:002013-05-27T12:17:55.987-04:00Paul,
An essential part of monetary reform, imo, ...Paul,<br /><br />An essential part of monetary reform, imo, is a universal bailout of the entire adult (plus a trust fund for existing children?) population with new fiat (combined with at least a temporary ban on new credit creation and metered appropriately to preclude significant price inflation). So many would have a "patrimony" and/or trust fund to help them get started. They would not need credit.Anonymoushttps://www.blogger.com/profile/13859046687902645077noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-28218839797797255572013-05-27T11:42:53.220-04:002013-05-27T11:42:53.220-04:00"But why can't the worker afford a car in..."But why can't the worker afford a car in the first place, in the world's richest country?" - F.Beard<br /><br />This impies a system where we inherit the money to buy the stuff we need to start out. Our parents "loan" us the money.<br /><br />That already happens but it isn't enough to build the personal infrastructures needed for a middle class.<br /><br />Workers can't afford cars (or houses) in the first place because they have to save first…and that takes time.<br /><br />We need transportation and shelter in the meantime.<br /><br />Of course, we could make do with less…we don't need massive drywall castles and a new car every three years, so we could (should) make do with a lot less credit.<br /><br />But then we are faced with the reality that for the past 50 years or so employment in the US has been driven largely by construction.<br /><br />Somethings gotta give…paul melihttps://www.blogger.com/profile/04604543110795683837noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-56763339651100763922013-05-27T10:42:06.519-04:002013-05-27T10:42:06.519-04:00Middle class civil war in Greece: latest update an...Middle class civil war in Greece: latest update and conclusions <br /><br />http://failedevolution.blogspot.gr/2013/05/middle-class-civil-war-in-greece-latest.htmlsystem failure due to insufficient evolution?https://www.blogger.com/profile/06502935674214763698noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-38337660710243537232013-05-27T09:30:22.132-04:002013-05-27T09:30:22.132-04:00govt just gives it to them up front? Matt F.
That...<i>govt just gives it to them up front?</i> Matt F.<br /><br />That's a thought. And low cost public transportation is an option too.<br /><br />But why can't the worker afford a car in the first place, in the world's richest country? ans: Most likely because he (or his ancestors) has been looted by the same counterfeiting cartel you recommend as the solution to his problems!Anonymoushttps://www.blogger.com/profile/13859046687902645077noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-68915797741858402062013-05-27T09:20:41.783-04:002013-05-27T09:20:41.783-04:00How do people get the "money" to buy a c...<i>How do people get the "money" to buy a car when they enter the workforce in order to get to work?</i> Matt F.<br /><br />I'm not against honest lending, even at interest (since the definition of "foreigner" is flexible), but a government-backed credit cartel does not lend existing money but instead steals purchasing power from all for the benefit of some - the banks and the so-called "credit worthy."<br /><br />I'm all for endogenous private money creation. Common stock is an ethical form of endogenous private money.<br /><br />But I can't imagine that "sharing" with the "rabble" crossed Hamilton's (or Madison's?) mind.Anonymoushttps://www.blogger.com/profile/13859046687902645077noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-42004953290342236912013-05-27T08:49:36.608-04:002013-05-27T08:49:36.608-04:00F.,
How do people get the "money" to bu...F.,<br /><br />How do people get the "money" to buy a car when they enter the workforce in order to get to work?<br /><br />govt just gives it to them up front?<br /><br />(Make mine a Corvette?)<br /><br />rsp,Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-3059737914281261342013-05-27T06:50:23.648-04:002013-05-27T06:50:23.648-04:00"How is the danger in all cases of interested...<i>"How is the danger in all cases of interested coalitions to oppress the minority to be guarded agst.?"</i> James Madison<br /><br />With justice, of course! And a government-backed credit cartel is NOT just nor even philosophically consistent with "liberty." <br /> <br /><i>He has told you, O man, what is good; and what does the Lord require of you <b>but to do justice,</b> to love kindness, and to walk humbly with your God?</i> Micah 6:8Anonymoushttps://www.blogger.com/profile/13859046687902645077noreply@blogger.com