[quote]vroom wrote:
Zap Branigan wrote:
His commentary looks accurate.
Yep. It looks to me that folks are wanting to be convinced… and will swallow any economic swill that comes by in support of their guy.
When, in the history of the planet, have we turned back the clock and said that a previous point in history was perfect? Oh, yeah, the economic system of yester-century, that was perfect… let’s put that back in place forever.
They all come with strengths and weaknesses.[/quote]
Well first of all “we” did that quite often, the myth of the golden age that then fell apart is actually quite common, the bible has one of the more imaginative descriptions.
Then, when it comes to economics, what has been true 2000 years ago is still true today, so we may have a better understanding of it, but the main principles still apply.
Furthermore, a highly regulated society and economy may have its strenghts if you happen to be one of the ruling class, otherwise neither Imperial Rome nor Imperial China where great places to live.
No, economic and cultural stagnation, if not decline, caste systems and the occasional famine and epidemic.
The Eastern Roman Empire, with it relatively unregulated economy and its rock hard currency lasted 1000 years longer than overregulated and inflation ridden Western Rome.
You are right though, great empires never turned back the clock.
They fell.