Tom Utley

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Tom Utley
Posted over 1 year ago
Is America past its prime? DISCUSS WITH Robert Gordon and Erik Brynjolfsson in a LIVE DEBATE, Thursday at 4pm Eastern.
LOL, the old "the internet was created by government" myth. Nobody is saying that everything the voluntary (private) sector does is great, or successful. It makes mistakes. But unlike the coercive (public) sector, when the voluntary sector makes mistakes, those responsible go bankrupt and pay for their mistakes. When the government makes mistakes, they just spend more money and fail even harder.
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Tom Utley
Posted over 1 year ago
Is America past its prime? DISCUSS WITH Robert Gordon and Erik Brynjolfsson in a LIVE DEBATE, Thursday at 4pm Eastern.
I'm seeing lots of "we need to do this" and "we need to do that" when the reality is the economy and innovation are driven by individuals who voluntarily set out to accomplish goals, without forcing everyone else to go along with their plan. "we" need to get out of the way, and let innovators innovate. I see lots of talk about education - how "we" need to change this and that. Again "we" need to get out of the way, and return education to the parents, who know what is best for their children. The "we" the people keep referring to is the government. Government is the enemy of innovation. It kills everything it touches. Education should be the easiest, most obvious example of this.
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Tom Utley
Posted over 1 year ago
Is America past its prime? DISCUSS WITH Robert Gordon and Erik Brynjolfsson in a LIVE DEBATE, Thursday at 4pm Eastern.
I would disagree that we currently have a capitalist system. We have more of a modern mercantilism with a marriage of government and favored corporations. A good example of this is the new internet tax being pushed by Wal Mart and Amazon. As to taking risks - it's hard to take risks without capital. Thanks to the Federal Reserve, there's not much real capital out there.
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Tom Utley
Posted over 1 year ago
Is America past its prime? DISCUSS WITH Robert Gordon and Erik Brynjolfsson in a LIVE DEBATE, Thursday at 4pm Eastern.
I think our economy is just getting started, and even though the government tries to stifle it and feed off of it like a parasite, it finds a way to keep going and to keep innovating. Unfortunately the government has been pretty successful lately and so many people are out of work and a lot of wealth is leaving the country, but I think the free market will eventually conquer the government. At least I hope so.
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Tom Utley
Posted over 1 year ago
James B. Glattfelder: Who controls the world?
With all due respect, this "complexity" perspective is nothing new, and there is a school of economics that was neither shocked nor confused by the latest economic collapse. That school is the Austrian School - http://mises.org/ The reason, in the modern world, that so few people can exert "control" over so many others is not mystical or hard to figure out. It is fiat currency, taxation, and central banking. The few, well connected, "rich and powerful" are the ones who benefit from the easy credit and the creation of money out of thin air. The rest of us are left to compete with constant theft of our capital (taxation) and constantly rising prices. Then when a bubble arises in the economy from all of the mal-investment (originating with all of that easy credit), the bust is called an "unexpected economic crisis," the well-connected get bailed out, and the rest of us are left to pick up the pieces. It's no mystery folks.