[–] nomenimion ago
The way to combat the remaining pockets of poverty is to keep this system; to reduce government intervention instead of increasing it; to reduce government spending and punitive taxation — in brief, to increase the incentives to the initiative, effort, risk-taking, saving, and investment that increase employment, productivity, and real wages.
This is wrong (for our current economic situation). You can't increase incentive to invest without first restoring consumer confidence, because if people aren't spending money there's no point to upgrading your business.
We are now well into the American lost decade.
[–] HoocOtt 0 points 1 point 1 point (+1|-0) ago
restoring consumer confidence
QE1 QE2 QEInfinity....
How is that working out for you? Perhaps we should keep doing the same thing over and over and hope that this time it will give a different result.
I will give you credit for at least admitting there is no "consumer confidence".
But clinging to this fable after 7 years of "consumer confidence" building zero percent interest is the definition of madness.
[–] HoocOtt 1 point -1 points 0 points (+0|-1) ago
My god Mises I love ya but how hard is it to simply write "Wages grow slower then inflation"