i side with adam smith that the government should have only a small amount of power so that the economy can thrive on its own, with only minimal intervention of government officals
But, if we were to leave the economy in the hands of the government, whose to say that it would work? What if they don't get along again and we have a governments shutdown? Its better to keep the two separate so if one falls, at least the other will keep the country afloat. If our economy and our government shut down, how is the country supposed to function? Our country has managed to survive this long with the way it is, i don't see why it cant now. ~Keanan Wolfe
I don't think Keynes wanted to see a centrally planned economy. I think he wanted to fix the free market system, by allowing government to exercise its strengths when the market system gets into trouble. I think what Keynes accomplished was to make major adjustments so that the system could live on. Good post. Tell me what you think. Mr. Pierce
Yes Keanan thoughtful comment, but government shutdowns can potentially hurt the economy because the federal government is a huge consumer & employer. I guess if it wasn't so big, a shutdown wouldn't be such a big problem. Thanks for your quality comment
Well Oliver I think this is the conclusion that most people have come to. It's a matter of to what degree the government should intervene. I guess during our latest financial downturn, the debate centers on whether or not the government should let the chips fall where they may, or should the government adopt a keynsian approach & effectively bail out the financial system. Just about everybody agreed that a bailout was necessary, including George W. Bush who repeated that we are all Keynesians now! Do you think the governent's actions were justified? Why?
3. Keynes was trying to help the economy by there being more government intervention. He wanted the government to step in for future business failures, inflation, and a recession. Keynes believes that government would help the economy them being more money in people hands. 5. George W. Bush meant that the government needed to get involved to help bailout banks and other industry during the great depression. Even though many people believed in what Adam Smith said but in a great depression the government needs to get involved to help raise the economy. Banks especially one the important parts of our U.S. economy.
Yes, Gerado, for sure I too think George W. Bush was conceding some of his free market principles & and admitting that yes the government does need to intervene in a big way to bail out the economy. Proof read your stuff for clearer presentation. What are some of those specific government interventions? Get back to me as soon as you can. Mr. Pierce
indeed - Bryant Hernandez
ReplyDeleteThis comment has been removed by a blog administrator.
ReplyDeletei side with adam smith that the government should have only a small amount of power so that the economy can thrive on its own, with only minimal intervention of government officals
ReplyDeleteBut, if we were to leave the economy in the hands of the government, whose to say that it would work? What if they don't get along again and we have a governments shutdown? Its better to keep the two separate so if one falls, at least the other will keep the country afloat. If our economy and our government shut down, how is the country supposed to function? Our country has managed to survive this long with the way it is, i don't see why it cant now. ~Keanan Wolfe
ReplyDeleteI don't think Keynes wanted to see a centrally planned economy. I think he wanted to fix the free market system, by allowing government to exercise its strengths when the market system gets into trouble. I think what Keynes accomplished was to make major adjustments so that the system could live on. Good post. Tell me what you think. Mr. Pierce
DeleteYes Keanan thoughtful comment, but government shutdowns can potentially hurt the economy because the federal government is a huge consumer & employer. I guess if it wasn't so big, a shutdown wouldn't be such a big problem. Thanks for your quality comment
ReplyDeleteGovernment is key in any economy, because without someone or something looking over the market, the market will crash.
ReplyDeleteWell Oliver I think this is the conclusion that most people have come to. It's a matter of to what degree the government should intervene. I guess during our latest financial downturn, the debate centers on whether or not the government should let the chips fall where they may, or should the government adopt a keynsian approach & effectively bail out the financial system. Just about everybody agreed that a bailout was necessary, including George W. Bush who repeated that we are all Keynesians now! Do you think the governent's actions were justified? Why?
ReplyDeleteThat was Mr. Pierce responding above Oliver
ReplyDeleteGerardo Rivas
ReplyDelete3. Keynes was trying to help the economy by there being more government intervention. He wanted the government to step in for future business failures, inflation, and a recession. Keynes believes that government would help the economy them being more money in people hands.
5. George W. Bush meant that the government needed to get involved to help bailout banks and other industry during the great depression. Even though many people believed in what Adam Smith said but in a great depression the government needs to get involved to help raise the economy. Banks especially one the important parts of our U.S. economy.
Yes, Gerado, for sure I too think George W. Bush was conceding some of his free market principles & and admitting that yes the government does need to intervene in a big way to bail out the economy. Proof read your stuff for clearer presentation. What are some of those specific government interventions? Get back to me as soon as you can. Mr. Pierce
ReplyDelete