RE: The National Debt Clock
October 27, 2010 at 11:43 am
(This post was last modified: October 27, 2010 at 12:00 pm by Anomalocaris.)
Pardon the ignorance, but was Britain running a large budget deficit before the liquidity crisis in 2008?? If not, then how was excessive spending to blame?
Also, government spending and capitalism are hardly incompatible except when one regards capitalism as a code word for certain ideology rather than as a system for concentrating and allocating the economic resource and potential of the economy. Government is a player in the capitalist economy. Granted it is one with some unique strengths and powers, but other players have these as well. Statist capitalism, where the state applies itself to be biggest player in the capitalist system, had a mixed track record. But the best examples are hardly less impressive than any examples to be gleamed from those where government really did play much smaller roles in the economy.
Also, government spending and capitalism are hardly incompatible except when one regards capitalism as a code word for certain ideology rather than as a system for concentrating and allocating the economic resource and potential of the economy. Government is a player in the capitalist economy. Granted it is one with some unique strengths and powers, but other players have these as well. Statist capitalism, where the state applies itself to be biggest player in the capitalist system, had a mixed track record. But the best examples are hardly less impressive than any examples to be gleamed from those where government really did play much smaller roles in the economy.
