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Rosedove

Do you think our economic history is a long record of government policies that failed because they

were designed with a total disregard for the laws of economics?
DJ:

No. Economics is all about Human greed, needs and wants. Government can only react to economic forces. No government can control the economy, it is why the old U.S.S.R. collapsed, the communist failed to meet the basic needs of their nation.

Battaglia:

Yes and also the inability of most in congress to actually vote on legislation..How either goes on without someone losing their cushy jobs amazes me. I dare say we couldn't do such a thing.

DrewT:

I remember taking econ 101 and 102, micro and macro econ. What you get out of both is that the science of econ is really screwed.
As an example. I walked into the first day of econ class and on the blackboard the instructor had written; "Economics is the only field that you can win a noble prize in for proving an economic theory and for dis-approving(proving a theory false) an economic theory". When the instructor explained this quote he said it has happened on more than one occasion.

Globally Interested:

Absolutely not. How do you think we became one of the wealthiest nations on earth? We have not had a depression for almost 79 years.

There are no 'laws' of economics; only theories. All of these theories appear to have exceptions. Even the supply and demand theory has exceptions, as illustrated by the 'stagflation' period of the 70's.

The outcome of the application of the theories depends largely upon the response of the society, which, in turn, is often dependent upon psychological reactions.

Controlling

Globally Interested:

oops...hit the wrong buttons.


Trying to control the economy is like playing a pinball machine. Overall, I would say that, historically, our government has been a pretty good pinball player.

Home grown:

yes,no,maybe,got sent back to yesterday,tomorrow ,never had a chance,to good to be true. no i don't a lot of the time it just a bunch of idiots with no business being involved in government affairs.

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