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Big corporations went to debt markets [...], and Alan Greenspan's monetary policy, mimicked throughout the neo-liberal world, made it ever cheaper for corporations to do so.

I'm surprised. I thought you think Greenspans cheap money was better than an Austrian tight money approach.

Der Amerikaner ist die Orchidee unter den Menschen
Volker Pispers

by Martin (weiser.mensch(at)googlemail.com) on Mon Feb 16th, 2009 at 09:45:02 PM EST
Tight money is fine, as long as working people are guaranteed a job and a pension and an equal shot as anyone else at a formative role in society.

But, that's not the world we live in.

Credit in this world is a necessary evil; we'd do best to move beyond, but until no one, child or adult, is at serious risk of homelessness, hunger and mental or physical abuse, I'll be all for anything which causes the least immediate damage.

And until the church gets a lot more funding, that's the world we live in.

Fai de bèn a Bertrand, te lou rendra en cagant

by redstar on Mon Feb 16th, 2009 at 09:57:28 PM EST
[ Parent ]
What has it to do with the church?

Earth provides enough to satisfy every man's need, but not every man's greed. Gandhi
by Cyrille (cyrillev domain yahoo.fr) on Thu Feb 19th, 2009 at 04:56:24 AM EST
[ Parent ]
In the olden days the Church used to run hospices, asylums, shelters, soup kitchens and orphanages.

Most economists teach a theoretical framework that has been shown to be fundamentally useless. -- James K. Galbraith
by Migeru (migeru at eurotrib dot com) on Thu Feb 19th, 2009 at 05:03:45 AM EST
[ Parent ]
Well yes but surely that's not what we want (ie, one important word is "olden"? Surely we don't want to delegate those key features of society to an organisation of institutionalised superstition and sectarism, funded by all without regards for their consent?

Earth provides enough to satisfy every man's need, but not every man's greed. Gandhi
by Cyrille (cyrillev domain yahoo.fr) on Thu Feb 19th, 2009 at 05:31:11 AM EST
[ Parent ]
And which provides those services spottily and rather selectively to boot.

That the church institutionalises superstition, frequently bordering rank stupidity, would offend my sense of aesthetics, but if it were that or quote-unquote "market solutions," I suppose I could live with it. It's the fact that it institutionalises discrimination that's the real deal-breaker.

- Jake

If you only spend 20 minutes of the rest of your life on economics, go spend them here.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Thu Feb 19th, 2009 at 10:26:39 AM EST
[ Parent ]

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