Re: The country has turned the corner - liberalism is dead. Over half now say Obama lied....

RichL wrote:
Spender <Spender@xxxxxxxx> wrote:
On Sat, 7 Nov 2009 00:33:22 -0500, "RichL" <rpleavitt@xxxxxxxxx>
wrote:

Spender <Spender@xxxxxxxx> wrote:
On Fri, 6 Nov 2009 19:22:27 -0500, "RichL" <rpleavitt@xxxxxxxxx>
wrote:

Economies aren't intelligent beings. They don't have minds of
their own.
You've never read Adam Smith.
Sure I have. Human thinking generally has progressed considerably
since his day, as has economics specifically.
That doesn't change the natural principle of markets seeking
equilibrium. What has changed is politics. The economy can be altered
on a massive scale by politicians doing favors for lobbyists. That
doesn't stop the natural forces though. It just puts off the pain
until later, and usually on people other than the lobbyists.

These days the results all too often fall under the law of unintended
consequences.

I don't buy the "natural principles" and "natural forces" bit. Nature
runs via the laws of physics, not economics, which are a totally
man-made invention.

Some of it is. Much of it isn't.

In that context, economics is more akin to
religious principles than scientific ones.



It probably seems that way because of how it is
presented. Indeed, I think modern Liberalism can
be effectively characterized as religion - a point
Norman Podhoretz spoke on at lengths selling
his new book.

Economics is a very young science. But many disasters in
economics really do make Hayek look like he knew what he
was saying.

--
Les Cargill
.

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