U.S. debt $150,000 per taxpayer

Discussion in 'Budget & Taxes' started by kazenatsu, Apr 12, 2018.

  1. Reiver

    Reiver Well-Known Member

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    Nope. As a label it demonstrates meaning. Neo-liberalism, as a label, has provided us with a means to fight back against lobby led market fundamentalism
     
  2. OldManOnFire

    OldManOnFire Well-Known Member

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    You can fight the merits without need to fight the labels...
     
  3. Reiver

    Reiver Well-Known Member

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    To fight the bad economics, the label is vital. It highlights the false narrative.
     
  4. a better world

    a better world Active Member

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    Reiver, I've argued it's time to adopt a global counterbalance to neo liberalism, along the lines suggested by Keynes way back in 1944, at the Bretton Woods conference, with his "clearing union" concept.

    (Predictably the US - emerging from WW2 as the world's largest creditor nation - rejected the idea....somewhat ironic , given that the US is now the largest debtor nation - though I note your comments that this debt is not necessarily a bad thing).

    A common response is that such a concept (ie Keynes' "clearing union") is utopian.

    Perhaps it's more a matter of parties of the Left, world-wide, communicating with one another, to bring about the reformed IMF that is required.
     
  5. Reiver

    Reiver Well-Known Member

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    This is an interesting angle. I had a slightly different view. I'd argue that things went pear shaped with GATT. We should have had the International Trade Organisation with development at its core. This would have ensured a more level playing field today and a less dysfunctional US. There's an irony that the US stopped it...
     
  6. OldManOnFire

    OldManOnFire Well-Known Member

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    Don't need labels to discuss issues and seek solutions...
     
  7. Reiver

    Reiver Well-Known Member

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    You do if you want to achieve validity and also refer to effective policy change. Labels, for example, provide the means to track costs and benefits such that we have the means to understand inefficiencies.
     

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