Friday, August 14, 2015

Dear Mr. Krugman: Do you really believe we are all that much better at managing a market economy?

I've indicated my frustration on this topic before, but he just keeps doubling down on the mistakes the Chinese are making. They are making mistakes mind you, but to think that we have been doing oh so much better at keeping things running along just fine for everybody is just nonsense. Just as his fallback to the usual nostrums of government regulating prices and mandating wages is.

As a progressive I understand the motivation that Liberals have to try to use what they have always relied upon to fix what is essentially a flawed system. As a systems analyst, however, I also understand that, after certain levels of complexity are reached, mainly by the layering of changes upon changes, over many decades, you reach a point where any further tinkering only makes things worse. Both because you can't fully anticipate what all of the consequences of your changes will be, but also because the system itself is actually no longer applicable to the operating environment it seeks to provide functionality in. It is at that point that you must concede the point that it is time to start over.

And by starting over I mean it is time to re-examine the environment we now exist in, and then to redefine the kind of functionality we feel is most appropriate to it, in combination to what we can agree would be most conducive to allowing for a more connected, and meaningful lives. Lives that balance loving intent with the practical aspects of sustainable, and secure, material well being.

As I have also said before this will be anything but easy. How incredibly difficult only time will tell. The only sure thing that I can say is that it will be better to try to achieve it than wait for what will inevitably come if we just leave things as they are.

Paul Krugman explains the looming economic crisis that "bodes ill for the world as a whole"

Paul Krugman explains the looming economic crisis that “bodes ill for the world as a whole”

"Is it possible that after all these years [governments] still don't get how this 'market' thing works?"