Monday, January 11, 2010
Does the Government Own the Whole Economy?
My sources say no:
In a recent New York Times op-ed, economist Robert Shiller (coproducer of the famous housing-price index) recommended that the US government begin to sell claims on fractions of Gross Domestic Product. Besides the practical problems with his proposal, it rests on the premise that the US government owns the entire economy. It will be instructive to parse Shiller's column to see just how badly his collectivist thinking misleads him.
Comments:
If Shiller really wants assets that are analogous to corporate stock (as opposed to bonds), it would make much more sense for the government to sell securities entitling the buyer to a percentage of tax receipts, not a percentage of GDP.
As is done in Somalia.
(Cross posted from mises.org)
As is done in Somalia.
(Cross posted from mises.org)
# posted by 
: January 11, 2010 at 11:01 AM
: January 11, 2010 at 11:01 AM
I agree there are some retarded ideas there, however, since tax revenues have a correlation, like jim said it is possible, though ethically stupid.
P.S.Also i can't get on Mises.org, has the gov't messed with my internet?(other in the same network but not IP can)
Post a Comment
P.S.Also i can't get on Mises.org, has the gov't messed with my internet?(other in the same network but not IP can)
# posted by : January 12, 2010 at 1:06 AM
: January 12, 2010 at 1:06 AM Subscribe to Post Comments [Atom]
<< Home
Subscribe to Posts [Atom]