People moved to abandon their homes may be reminded of what Davy Crockett told Congress: "you may all go to hell, and I will go to Texas."The justification for government intervention in economic exchanges has long been the argument that one of the trading parties is at an unfair disadvantage.
is that supply creates demand, that a successful business adds to the productive capital of society, which increases the goods, and the profits, available for everyone.
Nevertheless, the bailouts happened.
This is the very process that swept away subsistence agriculture, horses and buggies, whaling for lamp oil, slide rules, and countless other ancient, obsolete, and inefficient industries.
We're spending money too, but less of it on credit cards.
Milton Friedman long ago recognized slight deflation as the "optimal" monetary policy, since people and businesses can hold lots of cash without worrying about it losing value.
Edward Wong is a correspondent in China for The New York Times.
Deflation, the Economist[!] recently proclaimed, is a "pernicious threat" and "the world's biggest economic problem." Christine Lagarde [disinvited to speak at Smith College in 2014, evidently for being a capitalist, which shows us that Marxism trumps in Progressive evaluation], managing director of the Internationl Monetary Fund, called deflation an "ogre" that could "prove disastrous for the recovery"...
Consumers will 15 hours on average shopping for gifts.
without a concerted effort to boost demand through increased government spending and lower taxes, rid banks of bad loans and make labor markets more flexible, the International Monetary Fund said...
National retailers, meanwhile, have added more seasonal employees.
At that rate, the IMF said inflation will be below the European Central Bank's target of just under 2% through 2020, while unemployment will stay high."IMF Urges Eurozone To Boost Spending," , July 28, 2015, A8;on spending and the inflation "target," ; on taxes and deregulation,
Gift cards are growing in popularity.
But the economist who himself referred to the "idiocy of rural life" held to the myth of happy and virtuous Mediaeval rural communism, ruined by capitalism.