Ronald Reagan on Economics, 1976: "The Modern Little Red Hen"

[DCsportsfan53]

I'm not arguing for extremism, so much as arguing against moderation as an ideology of its own. There are very often right and wrong answers, and halfway between right and wrong is nothing but a bog.

That's nonsense. If you want to use silly examples, what about drinking? So I'm just bogged down and ignorant if I'm a responible, occasional drinker? I should be either a full blown alcoholic or completely abstain, right, since moderation is crap?

[AlexRS]

Let me put it this way: one person says 2+2=4. Another one says 2+2=8. You say 2+2=6. You're in the middle, only one of you is right, and it's not you.

Well gee, what if one person says: 2+2 = 5 and the other peson says 2+2=3?

[AlexRS]

I think there have to be laws in place to make sure companies don't cheat their shareholders or their customers, and to make sure there is competition in the market.

In your understanding is this the only thing the concept of Ethics entails?

If you want to talk about extreme positions, that's one. You don't even hear the most far-left Democrats proposing wage controls. There is a minimum wage, but that's as far as it goes.

Indeed both over-regulation and under-regulation are extreme positions.

[AJ_Skins]

I agree with you on wages but the government did have to step in and regulate the work day, child labor, safety, hiring practices, and other issues.

I agree that some of those things have to be done, but none of that is socialism, which involves directly taking the fruits of one person's labor and handing them to someone else. The only area where I see any need for even a hint of socialism is education, and I believe that funding should be 100% voucherized.

[Rocky21]

I enjoyed the story because as far as I know Reagan wasn't senile in 1976. Plus it's probably the most sense he ever made on economic matters.

Concerning his well thought out policy of Reaganomics, former chief of staff Donald Regan in his book For the Record states “In the four years that I served as Secretary of the Treasury I never saw President Reagan alone and never discussed economic philosophy or fiscal and monetary policy with him one-on-one. From first day to last at Treasury, I was flying by the seat of my pants. The President never told me what he believed or what he wanted to accomplish in the field of economics.”

[AJ_Skins]

Regan was fired, so he wrote a book trashing Reagan. Nothing more to it than that.

[Rocky21]

Regan was pressured to resign because of Iran Contra.

[Baculus]

I also think this oversimplifies some of the issues. For example, Corporatism is not exactly good for the Free Market or Capitalism, especially if markets and competition is reduced. And part of the issue that we've seen is the "anything goes as long as you can bake your loaf of bread" mentality that has developed, with the resulting Ken Lays of the world.

The Free Market or capitalism does not have to mean ruthless type of mercantilism, which even Adam Smith opposed, but with the transnational corporations, who increased in power under Reagan's term, this is often the case that we see.

And never mind the hypocrisy of "baking my loaf of bread and reaping the rewards" when you receive millions and billions of dollars of government corporate assistance or huge tax breaks.

[SkinsHokieFan]

I also think this oversimplifies some of the issues. For example, Corporatism is not exactly good for the Free Market or Capitalism, especially if markets and competition is reduced. And part of the issue that we've seen is the "anything goes as long as you can bake your loaf of bread" mentality that has developed, with the resulting Ken Lays of the world.

The Free Market or capitalism does not have to mean ruthless type of mercantilism, which even Adam Smith opposed, but with the transnational corporations, who increased in power under Reagan's term, this is often the case that we see.

And never mind the hypocrisy of "baking my loaf of bread and reaping the rewards" when you receive millions and billions of dollars of government corporate assistance or huge tax breaks.

Very good point

Fiscal conservativsm does not mean corporate welfare. There is a difference between a corportisit and a conservative

Tax breaks are one thing, corporate welfare is another

[Darth Tater]

Are you familiar with the concept of Ethics?

That is a better question for you.

[Sarge]

Eh?
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Obviously Chom has hacked Theibears account