But I think it will actually be easier to redefine growth than to give it up. If quality translates into "bigger price", then we can have growth without having more. In the long run, we're all dead. John Maynard Keynes
Notice the framing of the debates: tax adjustments vs interest rate adjustments vs more direct federal spending. These are all tools, not goals. We don't ask a plumber to design our house, we give him the plans and then he decides which size wrench is needed for a specific activity.
So what we need are sociologists and moral philosophers setting goals and then turning to the economists for suggestions on how to implement them.
The idea of "stimulating" the economy is unfocused, it is as if as long as it is bigger it doesn't matter how the restoration goes. This is completely backwards and will only end up with the haves ending up with even more.
There is a good chance that China will suffer from some wholesale civil unrest because of the downturn, I would not be surprised to see this show up in developed countries as well.
Perhaps the riots in France last year were just a foretaste of what is to come.
Goals first, then implementation plans. Policies not Politics ---- Daily Landscape
