Elite Member & Lifer
- Aug 20, 2000
A part of the article I didn't post touches on this:Originally posted by: WHAMPOM
The term you search for is Pyrrhic-Cons. :beer: to them. May they drink their cup of ashes with joy.Originally posted by: JSt0rm01
Ohh so you would drive the country into a depression on principle. ok thats a good plan.Originally posted by: CADsortaGUY
Whether it "works" or not(and they'll claim it "works" regardless of reality) doesn't matter, it's a principle thing.
And are you guys not neocons anymore? I don't get the mailer so I didn't hear about the change
Q: And economists know how to fix this, right?
A: Well, some economists don't think we should fix this. Some welcome high unemployment, thinking it?s the best way to get workers out of declining industries and into growth industries. They consider a period of high unemployment a way of convincing people who were previously employed "pounding nails in Nevada" to go do something else -- part of the respiration of the capitalist organism, as Josef Schumpeter said.
They tend to like the fact that financial asset prices are now low, and condemn attempts to raise them as efforts to keep the feckless financiers who bought them during the boom from suffering their just punishment.
Followers of this line of argument -- I call them the Marx-Mellon-Hayek-Hoover axis -- tend to say things like: "What's to fix?"