Radiance3 wrote:
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We are a capitalist country. Thus, our country became the wealthiest country over 2 centuries. Recently, this Coronavirus sunk all countries economy worldwide. We became the victims.
In the economist point of view, you have the brain of a SOCIALIST.
The reasons why the companies are given incentives and bailouts: Example like the banks in the housing industries, the shipping or tourism companies, a many other adversely affected.
This is to inject capital to these industries to put them back work so that our economy will come back. The capital provided is an investment to put them operate again, and employ people and to expand the economy.
When you put money directly into the hands of the people, it will just disappear, once they spend it. That will never return. Then they are broke and hungry again. Fact is that has been the bait all Socialist countries due to their people until all their resources are consumed. Then they become broke, they fight and riot, enslaved, or run away to other capital countries like the US. All Socialist and communist countries started that way by luring them and giving them bait.
**However, the president understands the need of those people who lost their wages and nothing to depend on. Most companies will give pay to people while they are out of work or production. But those who lost jobs with no other sources, the president is providing them money to sustain them until the economy is restored and they are back to work. They are also covered with unemployment insurance.
This is the right kind of conservatism. Invest stimulus to capital production, while sustaining the people from the government for its loss of wages.
When you give to the companies engage in business, they use it as an investment to make money, employ people, they pay their taxes, and thus our economy restores our economy. It grows wealth.
This is about consumption versus production. Consumption when given to the people, but production when given to the companies to produce more. That is capitalism.
During the 2008-2009 Subprime crisis, banks and companies were bailed out too. And people who lost their homes were given incentives to pay off loans to some extent, and allowed to retrieve back their homes from foreclosures.
But those who were extremely not qualified buying homes but used some trick to obtain loans. They lost their homes. It took 8 years, Mr. Obama gathered around 46 million households on Food Stamps program.
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Radiance, thanks for responding. Since you made several claims (as opinions without any evidence per usual), it will take several posts for me to respond.
You claim: "In the economist point of view, you have the brain of a SOCIALIST."
Since this is a claim aimed at me personally (which I do not find offensive, just incorrect), I have to answer in a personal context which is at best boring to most readers, but there is no other way.
I was weaned politically in a midwestern county that is as conservative as Orange County used to be. As a young teacher I reveled in the works of Ludwig von Mises (
https://mises.org/library/human-action-0) and Friedrich Hayak. Faithfully every month I read 'The Freeman' published through The Foundation for Economic Education (
https://fee.org/about/) by its founder-saint Leonard Read (
https://en.wikipedia.org/wiki/ ). I still have monographs autographed by Read.
If you check out these references, you will find that I am much further from being a socialist than you are as you promote the US government as conservative as they promote social security, medicare, an 8-hour work day, the post office, etc. Crayons is the only person at OPP who I recall claims that she does not use these government "handouts." Forgive me and correct me, Crayola, if I have misquoted you.
Rad says, "We are a capitalist country."
This, of course, is not true if she means that economic-political system of the US is a pure capitalistic system because the US is correctly called a plutocracy (
https://davidkorten.org/plutocracy/ ) as well as an oligarchy
(
https://bulletin.represent.us/u-s-oligarchy-explain-research/ ) in addition to being socialistic as indicated above.
Rad further states that because of capitalism, "...our country became the wealthiest country over 2 centuries."
Capitalism being the cause of the wealth in the US is not everyone's opinion.
For instance, biographers of James Madison and the Founders and other historians would place the Constitution way ahead of capitalism.
Another historian (
https://en.wikipedia.org/wiki/Louis_Hartz) attributes the success of the American experiment in liberty (and therefore wealth) to the absence of the European traditions feudalism, an official state church (i.e., the mandate of religious liberty), and a landed royalty.
Another approach is that of my Mormon neighbor who regularly (gently) harangues me (he would probably call it proselytizing) with the idea that God preserved the American continents for a liberty-loving people who would forever be free of kings and this would lead to the great prosperity that some of us enjoy. Come to think of it, maybe he means just North America since the Aztecs and the Incas certainly had kings. (Perhaps there is a Mormon among us on OPP who can validate my neighbor; there certainly are many Mormons who support conservatism (
https://news.gallup.com/poll/125021/mormons-conservative-major-religious-group.aspx ).
So there are reasons other than capitalism that Americans attribute to the country's prosperity.
Radiance 3, I hope I have convinced you that I am not a socialist and much more importantly that the American economic system is anything but pure capitalism. I am not sure why your adherence to this erroneous idea persists in so many conservatives because it makes them at best pseudo-conservatives in that they try to conserve something that does not exist. Perhaps it is a myth that the egalitarian autocrats/plutocrats want you to adhere to. (Our OPP colleague Scicilianthing probably attaches an even more sinister cabal to it.)
That's enough for tonight, Rad3.
t