Posted on Oct 09, 2008
Current Financial mess is mostly attributed < ZenTechie > 10/09 09:01:50
to those who practice Free Market. When Free Market believers reached critical mess, Free Market changed laws and dominated the market.
Free Market is like religion, people believed without questioning. No common sense whatsoever. The idea of Free Market is like communism, never taken human nature into consideration, therefore doom to fail.
Free Market is based on the assumption that meritocracy is practiced, that the most capable and ethical/principled person is place at the right position for their skill sets.
What we had so far, is mostly base on the good-old-boyz network, cronyism and nepotism. Just another perverse version of old empires; look at BushCo and the likes of our corporate America.
This is no different from all the previous failed empires such that of Romans, as well all Chinese empires; or our Auto empire for that matter.
“Unemployment is a deliberate decision by workers to take time off.”
LOL. Talk about clueless. Where are these people come from, Mars? Obviously, these people are over educated/book-learned, just another case of education does not equate to common sense. That’s why I never take people seriously who never worked in a real job, or their first job is after college, until they proved otherwise.
It seems, instead of looking at real economic events, as well get their hands dirty and spend times where events are actually taken place (for Real Estate, go though the process of buying a house and talk to all people around), these so-call Freshwater theorists (ie, Lucas) sit in their office, dreamed up of all sorts of theory, and then cheery-pick events to explain their theories.
Real events such as the Great Depression, 1987 crash, Asia in 1997-8, Argentina in 2002, didn’t fit in their theory, so they just ignored them. So, the question is, how could people, specifically their colleagues, let them get away with this, and what does that say about their colleagues?