Friday, May 15, 2009

I Thought We Would Be Fighting Less Wars

13 comments:

Douglas Porter said...

I think the last half of the speech was really good, but I think he was stretching a great deal with the Soviet comparison. In the end, the Soviets didn't have much of anything and didnt have freedom. We have many thing and a lot of freedom, but no jobs. It is totally different.

Josh said...

Not totally, but some. Of course, noone is saying its exactly the same.

Douglas Porter said...

If it is not similar, then he should stop using it as a red herring.

Josh said...

But it is similar. So is Weimar. So is Zimbabwe. So is Argentina.

Josh said...

And so is Iceland. The US will suffer a similar fate if the dollar crashes.

Douglas Porter said...

I suppose it is similar in the sense that an economy crashing is a bad thing, yes, but Paul is using the Soviet example on many different levels, partially as red herring..

Josh said...

Partially because their currency was overly inflated, they spent too much money fighting wars, and the country broke into several pieces; which is not impossible in the US if they have a similar economic break down.

Douglas Porter said...

er, they weren't a capitalist economy, Josh. The comparison therefore does not work.

Josh said...

Apparently neither is the US.

Douglas Porter said...

No, the United States has all the key attributes of a capitalist economy. Capital, workers, profit, companies, etc...

Josh said...

The United States has all of the key attributes of a socialist economy: central planning, workers, a ruling class, over regulation

Douglas Porter said...

"The United States has all of the key attributes of a socialist economy: central planning, workers, a ruling class, over regulation"

Then all states that have hitherto existed have been socialist.

Josh said...

"Then all states that have hitherto existed have been socialist."

Well, they all have socialist characteristics.