Posted by admin | Posted in Uncategorized | Posted on 02-05-2011
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. What is the alternative to a capitalist system that creates a boom and bust cycle.
As a society do we not have a moral responsibility for the inevitable social consequences.
Boom and bust cycles are caused by politicians, who have short term viewpoints (5 year election cycles). The alternative, is dictatorships, with no elections, or rotation of power with no elections. If it is known that every 10 years the country will switch to the opposition party, then the cycle will last 10 years not 5 if at all.
I say if at all, as there is no real incentive to deceive the public if there is certainty as to when the change of power will take place.
“Fear the Boom and Bust” a Hayek vs. Keynes Rap Anthem