Take a look at this list again and tell me
- Was the COVID infection rate higher there
–or– - Did they print-and-spend more than the countries not on that list
As pointed out before… that list is full of pariah states and several places are in open warfare.
I am not sure what the point of bringing up those nations are.
The point is the current inflationary boom-bust was not caused by COVID, not ehre not anywhere.
Every country experienced COVID
- those who chose to print-and-spend more, have more inflation (boom-bust)
- those who chose to print-andspend less have less inflation (boom-bust)
(pariah state does not change that, socialism does not change that, theocracy does not change that.)
Some aspects of economics really are like biology or chemistry or math.
They work they same regardless of government type.
Our current inflationary problems (and the bust that tends to follow) are the direct result of a covid response that was excessively print-and-spend.
Even the garden-variety lefties are saying “We got it wrong that one time.
We over did it. But Trump was right there with us, so don’t be hypocrites.”
Yours is a lone and somewhat odd voice in the wilderness saying
“The people who now admit they got it wrong were actually right.”
What a strange thing to say.
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*
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Paul Krugman “I Was Wrong About Inflation” – NYT July 21, 2022
https://www.nytimes.com/2022/07/21/opinion/paul-krugman-inflation.html
Partially yes… any pandemic is going to cause an economic crises.
Government spending goes up in an economic crises.
There is no way around that.
What Covid really did a great job of doing is blowing up the supply chain.
Ford Motor Company didn’t have to sit on incomplete vehicles in their lot because people were at home collecting checks instead of working… nope they had labor… the reason that they were sitting on inventory was because the supply chain for computer chips fell apart.
That drove up costs in an industry that saw increased demand at the same time.
That helped to drive inflation.
Multiply that anecdote 100’s of times across 100’s of companies and you can see where inflation is occurring.
Too much money chasing too few goods.
Increased government spending into a crashing economy ( something that was going to happen no matter what the response was to Covid) paired with disrupted supply chains from Covid decreasing supply.
That is the thumbnail of what happened
To blame government spending in an economic collapse as the sole cause of global inflation isn’t making an honest argument imo. It is making an ideological one.
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As far as I can see forum libs would be perfectly fine with infinite deficit spending and don’t believe there’s any downside to it. Then again they have a sacrosanct view of the federal government, especially when carrying out lib philosophy.
The sole cause?
I did not mean to do that.
But clearly the difference between deflation, 2% 6%, 8% 20% and 89% inflation was caused by the flawed economic resppnse, not by the virus.
The people who engineered and enacted America’s COVID response have been big enough and honest enough to admit that. They admit they were wrong. They admit they overdid it and are asking for amnesty. Kudos to them.
I’m not sure they will get amnesty, (we righties much prefer to say “I told you so,”) but kudos to them nonetheless.
Hopefully you will take their side, join them. Saying “we over did it this one time” does not mean you have to turn in your liberal card.
An Atlantic Think piece is not the “people who engineered the response asking for amnesty”
There are certainly lessons to be learned from this country’s response in every aspect
I don’t think we will.
have a good night.
I might pop in throughout the game but I dunno
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Free Market Capitalism is the best economic approach.
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You are absolutely correct.
Adam Smith was completely correct.
Having said that, we on the right need to acknowledge that socialism and
welfare-nomics are not the only threats to free market capitalism.
In fact, when Adam Smith wrote “The Wealth of Nations” he was
not opposing a welfare state, there was no welfare state to oppose.
He was opposing a system he called “mercantilism” (which today might translate as “crony capitalism” or “corporatocracy”) in which the government
- manipulated the currency
- created private monopolies/oligopolies
- tried to shape the overall economy (such as by favoring exports, favoring tech over old-economy, favoring green energy, or by favoring solar over wind within green energy.)
There are many ways central government can thwart the free market and harm an economy.
Taxes and spending are just two of them.
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Crony capitalism” and/or “corporatocracy” shouldn’t be confused with free market Capitalism.
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A mixed system is the best.
A free market where it delivers the best results and a socialized system where that delivers the best results.
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Correct.
My point exactly.
Decades ago (during the Cold War) the US supported right wing dictators who claimed their economies were free market capitalist systems, but when you pull back the curtain . . . that was not always the case.
Are there any examples free market capitalism existing in a stable form without spoiling into
a less free system?
There is always going to be crime.
One instance of congressional graft
or influence peddling
or one instance of insider trading etc.
does not mean “the entire system is now unfair and socialism is better.”
Heck the same sorts of crimes run rampant in “socialized” economies.
This is where every lib who’s been worshiping the virus that got them the Sniffer 'N Chief stopped paying attention to what you said and launched default.exe 
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Are there any examples, even allowing for crime and graft? The idea seems like it’s pretty perishable when it’s taken out of books and exposed to the air.
Yes there are plenty of examples.
Approximately the top 50-100 of the countries on this list
Right.
We have the former today.
We do not have the latter.
We never really had the latter, actually.
Because of the nature of the discussion, I didn’t think there were dozens of examples of free market capitalism already existing. I made a mistake.
