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US has had growth for almost 10 years straight. How long do you think it will continue?
US GDP is fake though, cause they aren't making money
I honestly don't know how to bridge that gap in understanding
Well the US runs a deficeit budget every year and has done so for 20_ years, have over 20 trillion dollars in debt
17 years, 21.7 trillion in the hole. GDP is an assessment of the total economic activity of the country.
National debt and spending does effect the economy, but the debt far less so than the spending.
You would have less debt if the usa wasnt fo capistalist
Insted of funding medicare welfaire ect thro tax
Make things more liberterian, privetise
What cant b privetised probebly should exsist
There are things that cannot be privatised but are essential for societies, like parks, toilets, hospitals, etc. Thus capitalism works best when there is a lot of free market but the government also is a part of it, aka the public sector.
Literally all those things can b privetsied tho
There private toilets alredy where i live
And why cant private hospitals b a thing 🤔
They can be, but they aren't successful, private hospitals for instance still get huge amounts of public funding same goes for most schools. Publicising things makes them cheaper, certain things.
1. how do they make them cheaper ?
2. why arent they successful ?
Money, money, money, business business business
Well because the concept of pure market based transaction is supply and demand. And, because the goods that hospitals provide aren't demanded by everyone, there is not enough money to maintain supply, so to do so they have to increase prices to accommodate, Whereas with public hospitals the supply is not dictated by the demand, but by the choice of where the government sees that there is a need for money that is not met by the economical principal of supply and demand.
They aren't successful because they limit customers who can afford it.
Seeing far more ideology than pragmatism here.
Nice counter argument.
Imo nationalisation is a good idea in a lot of sectors like health care and rail but it when you try to apply it to a sector that a free market would work in, that's when it goes wrong
I'm not so eager on that. Infrastructure sure, health care has issues.
@The Lemon Do you mean nationalization, by the definition? Or did you misspeak?
I mean taking an industry into government control and having it controlled by the state
Like the NHS in the UK
the free market rules supreme
Not in trains
If I want to get from London to reading on the british "free market" rail system
How many options of train company do I have
The answer is one, I can only go on south western trains
Which are notorious for ridiculously high ticket prices and Rampant delays all the time
But there's no possibility for a competitor to come in and take their place because there's only one train track and they own all of the trains on it
So unless someone was to come and build new train tracks all around the UK (which would be impossibly expensive) SWT are always going to have a monopoly on the trains in that part of the country
So even if you do have a "free market" there's going to be a natural monopoly
Therefore in this scenario its better to have a state owned monopoly where the people controlling it have to answer to the voting population rather than a company which owns the monopoly which cant be ousted by the people and is only trying to make profit
Obviously this only works in specific scenarios
Aka why I didn't say it works all the time
And that's why communism fails
Because communism tries to apply that everywhere
But in sectors like water rail and healthcare nationalization can work better
Nationalization works in some areas, a free market works better in others
No. Governments can limit Monopolies, and that's just fine.
A private Monopoly, can be held accountable for their actions, an entire government can not be so easily.
a Monopoly exsists beacuse its good
when its bad ppl dont use it
and it starts to fail
You can't hold a private monopoly accountable in that situation
Unless you boycott the trains
But in that case millions of commuters can't get around
if the Monopoly is bad ppl will go to other places
Or sue them
Also what grounds do you have to sue them
It's not like they intentionally set up a monopoly
most Monopoly are created beacuse of govement
Its the nature of the rail industry
that limit busnies
Gov regulations can't stop a monopoly in that sector
As I said
Monopoly give the gov a lot of money to stop other busnesis from taking over
exsample - car dealerships
and air ports
all goverment made Monopoly
in capitalisem that cant exsist
Those are examples where a free market works
cus the gov wont have the power
to opress busniese
But I'm talking about rail
Did you even read what I said
na i was busy making <#508204267631411200>
go check it out
I said nationalization only works in specific scenarios like heathcare and rail
You guys have way too much belief in the free market. Might want to give US history from 1870 to 1910 a look.
Wait @TheNobody You think that a monopoly exists becasue it is good? That's almost never the case, monopolies only exist when businesses drive out competitors, monopolies are always bad. Take Singapore for instance, they have the most free market economy and every field has heaps of competition, competition drives down prices, monopolies allow the supplier to price set, especially if they provide an essential good or service. This happened with Martin Shkreli and the aids medication.
Simply put, the free market has failures, 4 from when I did economics (income inequality: relative and absolute, positive and negative externalities, public goods and common resources and market power.), and it's a governments role to redistribute resources to fix the 4 failures.
Yeah, he takes free market principles to the point where it turns against itself. Monopolies are awful
the answer is
If they monopolize pot we're even more fucked than we were. 😂
If they legalise weed the price will go down
Free market supreme 💪 😤
Also, the government makes a shit load off the new taxes
Bad taxes are bad? <:thonkeyes:470272505328959488>
It won't be a free market, it will be a regulated market.
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