BBC w/ Paul Krugman: Is This End of America's Superpower Status?

Hissyspit

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Mon Oct-20-08 09:47 PM
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BBC w/ Paul Krugman: Is This End of America's Superpower Status?

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https://www.youtube.com/watch?v=GqzsR61gzaA

Posted on YouTube: October 21, 2008
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Posted on DU: October 21, 2008
By DU Member: Hissyspit
Views on DU: 2310

BBC World talks with Nobel Laureate Paul Krugman - Oct. 20, 2008.

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elleng

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Mon Oct-20-08 10:11 PM
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1. "Free markets,

in order to be free, must be properly regulated."

http://securingamerica.com/ccn/node/16571#comment-328645

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krkaufman

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Tue Oct-21-08 03:25 AM
Response to Reply #1

4. Which means there's really no such thing as a "free market" ...

... in the traditional sense of the word "free", where Conservatives have been trying to head for decades, towards laissez faire unregulated capitalism.

The market is a construct of governments and regulations, and we need to establish the market rules to work for the benefit of the greater society (Democratic view) rather than for those people able to accumulate the most wealth/capital (Republican view).

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elleng

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Tue Oct-21-08 11:05 PM
Response to Reply #4

5. "Free" doesn't mean FREE,

as in 'Its a FREE country,' but civilized, socially responsible people don't do all the things they are 'free' to do, like yell 'FIRE' in a theater.

Reasonable 'conservatives' have not, I think, expected utterly unregulated markets, and if they have, well, they can look at what's just happened, and discuss whether its what they had in mind. MAYBE it is, and if so, its clearly NOT in the public interest, so it can't be permitted to happen.

MARKETS just happen, and end up regulated if they are sufficiently significant to the public interest.

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barack the house

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Mon Oct-20-08 10:52 PM
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2. Capitalism can continue to exist it just needs restraints or it consumes everything.>

Edited on Mon Oct-20-08 10:56 PM by barack the house

Although Republicans opposition to anything to the alternative in other countries wasn't the best method to coax people over to the concept. The idea of regulation is to have sustained economy and prosperity for all as well as safety.

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krkaufman

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Tue Oct-21-08 03:19 AM
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3. Ow. "America borrows ... to fill the gap between the American dream and a low-wage reality."

Our problem summed-up in one brief sentence. Ouch.

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