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John Lounsbury » Comments » BAIRY.PK

  • Wall Street Breakfast: Must-Know News [View article]
    The comments here are pretty much in agreement in addressing some of the symptoms of our current malaise. I would like to add a list of some of the underlying causes.

    1. Use of debt to create additional debt, rather than to finance means of production.

    2. Lack of long-term planning and contingency planning.

    3. The belief that desirable economic outcomes can be legislated in any way except by incentivizing entreprenurial effort.

    4, Belief that self-interest in and of itself will, through competition (without regulation), automatically produce benefit for all.

    Others may add to this list, but I'll stop for now.
    Dec 18 14:44 pm |Rating: +3 0 |Link to Comment
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