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Free Market transformation or not? Asase and c

Kofi Ameko
2008-11-18 09:43:36

The free market Ideal, a cornestone of what Asase and co believe in, is a form of "dismal science" of economics corresponding to human nature, according to some. To some, capitalism is a historical transitory mode of production whose internal contradictions would lead to its downfall, hence a transformation. See the piece Botifan did post yesterday.

Asase and company, Circuit City is closing 155 stores. AIG called for another $50 billion dollars. The US auto giants want $20 billion taxpayer bailout. Citi Group is laying off another 53,000 workers making the number laid off to exceed 73, 000.

Your Idols, Hayek and Friedman claimed govt has no business addressing unemployment issues. Employment must be left to the dictates of the free market mechanism. Demand and supply mechanism is what they believed must determine employment issues.Surplus value creation is direcly related to the value of labor. The more unemployed we have in society, the cheaper the price for labor. This obviously fits into the free market Ideal.

The questions are:

1. Why should govt. bailout failed free market private companies for fear that many would be laid-off?

2. Why should govt. use taxpayers money to buy toxic and illiquid assets, hoping to make money from their sale should their value increase in the future?

3. What is the role of govt. in business under the Ideal you expouse?

4. Is comprehensive regulation of markets the same as bail-outs?

5. Do you think free market ideal transformation is on the way?

Over to you, Asase, Sendero, Okatakyie, and others.

Note; Asase, you launched an attack yesterday. I did understand. Your party and your long held Ideal are sinking so your entropy level went through the roof. I forgive you.May you let out a loud fart in public one of these days. Shame on you!

Enye Kofi Ameko

[This is an authentic posting from Kofi Ameko (Registered User)]
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Kofi Ameko
11-18 09:56