posted on Sep, 9 2008 @ 02:48 PM
Well, it should be dead. In fact Barack Obama mentioned it in his DNC speech. The basic theory is the "free-market" theory where you just let
businesses do what they do... they make extra weath and that wealth "trickles down" to the populace.
As argued best by Joseph Seiglitz (spelling? He was an economic advisor to Bill Clinton and Nobel-prize-winning economist... writes books on
globalisation), the free-market system may be good for top businesses, but the money doesn't trickle down to the people... this is apparently seen in
both practice and theory. And this is my pretentious analogy...ahem... businesses grow wild with their own interests at heart, but the government must
be a gardener, preventing overgrowth of some, supporting others to a degree, and stimulating new growth. Although this plays to Reagan's old joke of
"if it moves, tax it. If it stops, subsidise it!", nevertheless government needs to get involved with business for the good of the people -- whether
their savings are lost or whether it's an anti-competition issue.