Are Our Economic And Political Systems Working?
Presenter: John Pope
Consumers are told that they need to up their spending, or borrow the money coaxed by rock bottom interest rates, and spend like crazy to revive the faultering economy. The alternative, they say, is a national austerity regimen (e.g., Greece).
In the next breath we are told that the economy is threatened because consumers are holding too much debt.
The question is, are we working to support the economy, or is the economy working for us?
Note: If you are an expert on financial matters, an economist, or just well read on this subject, the Cafe would appreciate your presence and input since this topic can be complex for the average person. Please bring what you know and share it with us.
Related questions:
Are there alternatives to the current financial system?
Is capitalism working for the general public, or only for those with money to invest? Can capitalism be made to work through government intervention? What are the alternatives to capitalism (heterodox economics )?
Experts agree that the wealthy are getting wealthier, but the average Canadian is not. Why is this considered a bad thing? Doesn’t the concentration of wealth encourage investments which benefit all?
Can increasing the money supply fix the debt problem? Who should be bailed out with the newly created money, the financial lending institutions, or the debt holders?
Is austerity the solution to national debt overloads? Will there be long-tern improvements in the economy such as more jobs and growth opportunities to show for the short-term sacrifices people have to make under national austerity programs?
Web sites to browse:
http://en.wikipedia.org/wiki/Austerity
definitions
http://en.wikipedia.org/wiki/Money_supply
definitions
http://www.philosophersbeard.org/2010/10/why-is-heterodox-economics-joke.html
Criticism of alternative financial models
http://www.paecon.net/heterodoxeconomics/King23.htm
Support for alternative models.
Confused by all this? Me too.
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