3 ms·

That's a good question but presently it's fair to say that governments are way past that line. It would be a great start with governments committed to not spend

That's a good question but presently it's fair to say that governments are way past that line. It would be a great start with governments committed to not spending more than they earn and printing money to cover the deficit. At least this would stop the hidden tax of inflation. Every time politicians decide to do good somewhere they do bad everywhere. It's not that bureaucrats are evil and incompetent (although many are) is just that free markets are the ultimate resource allocation tool and government intervention is necessarily inefficient and make us poorer.

sangnoir 3y ago
> free markets are the ultimate resource allocation tool and government intervention is necessarily inefficient and make us poorer. I'm fascinated - does this hold under all conditions? Can we depend on free markets to efficiently allocate resource during an all-out war vs government commandeering industry, war-bonds and rationing goods? > It would be a great start with governments committed to not spending more than they earn and printing money to cover the deficit Do you think government should be in charge of setting a monetary policy? If not, should anyone have that role among private entities? Or should industry just duke it out with against occasionally adversarial nation-states
- lobocinza 3y ago
  > I'm fascinated - does this hold under all conditions? Maybe not. > Can we depend on free markets to efficiently allocate resource during an all-out war vs government commandeering industry, war-bonds and rationing goods? I don't think we should base our choice of economical system in the eventuality of an all-out war. Regardless of what I think in the event of an all-out war government will try to appropriate the resources it wants and gear the economy towards its needs because it can. A free market always efficiently allocate resources however I imagine the goals of the economical agents would be closer to preventing the destruction of wealth and human life than winning a war at all costs but this is context dependent. Ukraine is an example where people from all over the world on their own volition contributed to the war effort in ways beyond what state violence could achieve. And Russia is the opposite example, top-down and dysfunctional. > Do you think government should be in charge of setting a monetary policy? If not, should anyone have that role among private entities? Or should industry just duke it out with against occasionally adversarial nation-states. People should have the freedom to use whatever they want as exchange medium. I don't know what is best but the current system with unsustainable growing debt do more harm than occasional adversarial nation-states could.

sangnoir 3y ago

> free markets are the ultimate resource allocation tool and government intervention is necessarily inefficient and make us poorer. I'm fascinated - does this hold under all conditions? Can we depend on free markets to efficiently allocate resource during an all-out war vs government commandeering industry, war-bonds and rationing goods? > It would be a great start with governments committed to not spending more than they earn and printing money to cover the deficit Do you think government should be in charge of setting a monetary policy? If not, should anyone have that role among private entities? Or should industry just duke it out with against occasionally adversarial nation-states

lobocinza 3y ago
> I'm fascinated - does this hold under all conditions? Maybe not. > Can we depend on free markets to efficiently allocate resource during an all-out war vs government commandeering industry, war-bonds and rationing goods? I don't think we should base our choice of economical system in the eventuality of an all-out war. Regardless of what I think in the event of an all-out war government will try to appropriate the resources it wants and gear the economy towards its needs because it can. A free market always efficiently allocate resources however I imagine the goals of the economical agents would be closer to preventing the destruction of wealth and human life than winning a war at all costs but this is context dependent. Ukraine is an example where people from all over the world on their own volition contributed to the war effort in ways beyond what state violence could achieve. And Russia is the opposite example, top-down and dysfunctional. > Do you think government should be in charge of setting a monetary policy? If not, should anyone have that role among private entities? Or should industry just duke it out with against occasionally adversarial nation-states. People should have the freedom to use whatever they want as exchange medium. I don't know what is best but the current system with unsustainable growing debt do more harm than occasional adversarial nation-states could.