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It's a self correcting problem if meddling, albeit well meaning people would step aside and allow nature to do it's job unimpeded.
originally posted by: TheTory
a reply to: luthier
Yes, you're right. It does mean lower prices for the self-employed.
I've read Hayek and Mises, but I'm not any sort of advocate of the Austrian school. I'm not an economist, but I am self-employed. I'm more of a wealth of nations kind of guy, preferring the notion that a free-market can only work if it's participants have a morality. Either way, you can stop for such specious reasons if you are inclined to.
originally posted by: BuzzyWigs
a reply to: TheBandit795
And that leaves aside the fact that SO FEW PEOPLE are able to save anything at all.
So - fine. You think savings will grow the economy? Give the people some money to save then!!!
originally posted by: theantediluvian
a reply to: Aazadan
Would you agree that the same evolutionary mechanisms apply to economic systems themselves?
originally posted by: TheBandit795
a reply to: BuzzyWigs
Let's just agree to disagree. If economies grow only because of consumption then everyone should be given credit card with a high limit.
Savings can be used buy businesses to create more products, and can also be used to produce better and more efficient equipment in order to better serve clients and their demands. And can be used to invest, making companies and industries grow. If everyone spends, there is no growth. And certainly not in the household.
If you spend all the money you receive (whether you earn it or not) you won't be able to do much to improve your own situation nor be able to protect yourself against sudden financial setbacks.
originally posted by: Stormdancer777
If you live in a fixed income, then everything from food to utilities must be fixed, what are you going to do when prices go up?
Or I just don't get it.