The differences between different economic systems, explained via cow distribution… Hmmmm:
socialism's archives
Leaders Aim to “Re-Balance” the World Economy
The Group of 20 (G20) met in Scotland over the weekend, bringing together central bankers and financiers of nineteen countries, and the European Union (EU). The collection of nations constitute 80% of world trade and two-thirds of the world’s population. (1) Discussions of “re-balancing” the world economy have taken place over the last few months by members of the G20; those sentiments continued this weekend in St. Andrews, but apparently only in general terms. (2)
under: Deficits, Dollar, Dubiously Free Trade, Energy, Federal Reserve, Individual v. Collective, Live and Learn, Trust
Tags: asset bubble, Bernanke, capitalism, central planning, currency, current account, dividends, Federal Reserve, financial system, foreign aid, G20, IMF, interest, socialism, Treasury
Almost Half of U.S. Households Will Pay No Federal Income Tax in ‘09
According to estimates by the nonpartisan Tax Policy Center, 47% of U.S. households are projected to owe zero federal income tax in 2009. (1) Is this good, bad, or inconsequential?
Brett Favrenomics
Needless to say, Brett Favre has a difficult time making up his mind, loves attention and does not give a crap what anyone else thinks about him (he also like gunslinging, having fun, mowing lawns and wearing blue jeans while playing pick up football). So how does this relate to economics? Well, it doesn’t much. But I’m going to try to make an inane connection in order to cash in on frequently searched Google terms.
The Uselessness of Political Terminology: Part 1
What this whole mess elucidates is, as far as politics (and subsequently, economic policy) are concerned, actual positions are of little importance. All that matters is that you root for your team, be they Democrats or Republicans. Thus, we see Fox News begin to attack every push for increased state power, while MSNBC defends such policies. Under Bush, it was the opposite.
under: Game Theory, Individual v. Collective, Live and Learn, Trust
Tags: Adam Smith, Adolf Hitler, anarcho-capitalism, anarcho-syndicalism, anarchy, Barack Obama, BNP, British National Party, classical liberalism, communism, conservatism, Department of Homeland Security, fascism, FOX News, Franklin Roosevelt, Great Depression, Harrison Narcotics Tax Act, Irving Kristol, John Locke, Karl Marx, Leo Strauss, Leon Trotsky, liberalism, Mark Twain, Martin Luther King Jr., Marxism, MSNBC, Nazi's, neo-conservatism, neo-liberalism, New Deal, New York Times, Noam Chomsky, Osama Bin Laden, Paul Krugman, permanent revolution, political terminology, Progressive Movement, racism, radicalism, reactionary, right-wing extremism, Rush Limbaugh, Sean Hannity, socialism, Thomas Jefferson, Woodrow Wilson
Milton Friedman on Capitalism & Greed
Milton Friedman is interviewed by Phil Donahue about the “downfalls” of capitalism and free markets. Friedman didn’t see eye to eye.
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