Dave, a person saying something they know is not true is a liar. Aslund, Krugman, Friedman and others are contradictory but they are not liars. Their different opinions are part of the reason why economics is often called the dismal science.

Religious denominations interpret and proclaim differently from scriptures of what they believe but few here would call them liars. My point is that when things went bust the big economies generally went to Keynes as a reasonable option.

The financial sector and auto plants were deemed "too big to fail."Leaving another crater in downtown New York, one of the world's great financial centres, wasn't a rational option. Public spending put Humpty Dumptys back on the wall again.

It pleases me, from your Franz quote above, that we appear to agree on what "tipped world financial markets into chaos." But essentially the choice is between low tax, high private consumption and one with higher taxes but also more public services, programs and stronger communities: Scandinavia and others.

As a liberal Canadian I'm inclined more to fairness. The US generally places a higher value on freedom although from the last votes that seems to be changing for reasons earlier identified here by many members.


Last edited by King Brown; 08/15/13 12:38 PM.