Posted on 10/28/2009 9:50:10 AM PDT by FromLori
It has always been understood, sometimes whispered, that Geroge Soros, the great beneficiary of markets, hates them.
The truth is now out in the open.
John Stossel reports, via FT, that Soros will give $50 million to start a new think-tank to counter "the unwavering belief in unchecked free markets, which remains pervasive in universities."
Soros says: "The ideologists in the free markets are still in command and I think they'll be very difficult to remove because they have tenure."
If anything proves that one has to question Soros' analytical ability, it is this statement.
The leading economic textbook in American colleges is written by Greg Mankiw. Mankiw has among other insane suggestions, called for a negative interest rate, a global carbon tax, a higher gas tax, and before the economy plunged deep into a downturn he claimed , in December, 2007, that we should stay out of the way of the Fed as it continued its money manipulations. He wrote, of this group, who did not see the housing bubble:
...the current Fed governors, together with their crack staff of Ph.D. economists and market analysts, are as close to an economic dream team as we are ever likely to see...The best Congress can do now is to let the Bernanke bunch do its job. Yes, this smiling monster, who calls for tax after tax, and hailed the Fed just hours before it drove the economy off a cliff, is producing the top selling college economic textbook in the country.
Calling college teaching captured by free market advocates when a Mankiw text is the best seller is like stating that the Uzbek language is dominant in Mexico after having a few shots and overhearing six Uzbekistan tourists speaking Uzbek in Tijuana.
Soros as global thinker is a myth. Which supports the other rumor whispered about him, that the only serious money he ever made was with the help of Jim Rogers, or through insider tips on government currency moves.
The most terrifying human in America.
Actually, Soros is a Free Trader Globalist....and most of those who support Free Trade (and claim to support Free Markets) agree totally with Soros on his economics.
The writer of this article kind of alludes to the one fact that most Free Traders miss....Free Trade is not about Free Markets....most Free Traders do not want Free Markets....they want markets manipulated by the WTO, IMF, World Bank, and other internationalist, soverignity-robbing groups.
With the rare exception of Ron Paul (and maybe a few others), Free Traders are exclusively Globalists, and do not want Free Markets...and thus are in agreement with Soros
The guy's an economics professor, for chrissake . . . who teaches that a carbon tax achieves the same result more efficiently than the scheme called "cap & trade," and that politicians will likely choose cap & trade because it is more politically expedient.
That doesn't make him a carbon tax "proponent."
I am convinced that most of the market activity in the past 4 months has been done by Soros.
He is a Libertarian and a complete believer in free markets.
I wonder if this guy has any backup for these claims?
All Soros has to do is lead by example, give back the money he has made in the free-market and live on the average prevailing wage. No hypocrisy here.
Oh excuse me, I forgot this does not apply to the “fit” of society! Sorry Georgie boy.
If someone writes a paper arguing the pros and cons of a pre-emptive nuclear strike on Iran, a critic shouldn't arrive months later to claim that the writer is a warmonger. Am I splitting hairs? I don't think so.
I agree with you, but Ron Paul supports legitimate free trade, or true free trade. Not this phony international trade promoted by NWO fans. I am a legitimate free trader not a globalist. I support true free markets.
God bless you and God bless America.
Jonathan
I had the same thought. Saying negative interest rates would get us of the recession quicker than huge government spending programs doesn't mean he's in favor of either.
If he favors a higher gas tax, to eliminate the income tax, would Wenzel claim he's a tax hiker?
I want Free Trade. I want Free Markets. I don't want markets manipulated by the WTO, IMF, World Bank, US government etc.
With the rare exception of Ron Paul (and maybe a few others), Free Traders are exclusively Globalists, and do not want Free Markets
What's a Globalist?
and thus are in agreement with Soros
I disagree with Soros.
What planet is this guy living on?
George Soros is wanted by at least one country for attempting to destroy its currency. He, a Jew, has made hateful comments about Jews, blaming THEM for the Holocaust. Soros is a deranged guy who really needs to be in jail. Born in Hungary, he has allegedly screwed the British, the Americans and other countries by his machinations. Oh, and he’s a close insider in the Obama Administration...
And an IDOT to boot.
Price controls by the government only invite manipulation and corruption.
Their the killers of free markets.
Mankiw is a Keynesian, huh? Leading me to ask the question, do you know little of one, the other, or both?
Well, you are wrong.
"most Free Traders do not want Free Markets..."
And the evidence is what exactly?"
"they want markets manipulated by the WTO, IMF, World Bank, and other internationalist, soverignity-robbing groups."
You are such an expert on what's going on in other people's minds...
You should publish your findings in some peer-reviewed journal.
It's in the original post, silly . . . Soros is anti-free market, therefore he is pro-free market. You need to connect the dots the way deep-thinkers do.
New Keynesian Economics
by N. Gregory Mankiw
http://www.econlib.org/library/Enc/NewKeynesianEconomics.html
The Keynesian revival of 2008–2009
http://books.google.com/books?id=OIsTTEoWQ2MC&dq=Mankiw++New+Keynesian&printsec=frontcover&source=bl&ots=UcpLaFUIu-&sig=aeI6mWzx-hrBJ0YRXkfJfzHrFoQ&hl=en&ei=wNzoStT6KomnlAeR55GeDQ&sa=X&oi=book_result&ct=result&resnum=6&ved=0CB8Q6AEwBQ#v=onepage&q=&f=false
New Keynesian Economics
By N. Gerogry Mankiw
It’s not very likely that you can teach me anything, but thanks . . . so do you agree with my original objection on this thread? If you find somewhere that Mankiw states that Keynes was correct about something, that makes him a Keynesian? What if Mankiw edited a book about Marx? Would that make him a Marxist?
Good Lord. Another deep-thinker has discovered Google.
“If you were going to turn to only one economist to understand the problems facing the economy, there is little doubt that the economist would be John Maynard Keynes. Although Keynes died more than a half-century ago, his diagnosis of recessions and depressions remains the foundation of modern macroeconomics. His insights go a long way toward explaining the challenges we now confront.
According to Keynes, the root cause of economic downturns is insufficient aggregate demand. When the total demand for goods and services declines, businesses throughout the economy see their sales fall off. Lower sales induce firms to cut back production and to lay off workers. Rising unemployment and declining profits further depress demand, leading to a feedback loop with a very unhappy ending.”
What Would Keynes Have Done?
By N. GREGORY MANKIWPublished: November 28, 2008
http://www.nytimes.com/2008/11/30/business/economy/30view.html?_r=3&partner=permalink&exprod=permalink
The fly in the ointment — or perhaps it is more an elephant — is the long-term fiscal picture. Increased government spending may be a good short-run fix, but it would add to the budget deficit. The baby boomers are now starting to retire and claim Social Security and Medicare benefits. Any increase in the national debt will make fulfilling those unfunded promises harder in coming years.Keynesian economists often dismiss these long-run concerns when the economy has short-run problems. “In the long run we are all dead,” Keynes famously quipped.
The longer-term problem we now face, however, may be more serious than any that Keynes ever envisioned. Passing a larger national debt to the next generation may look attractive to those without children. (Keynes himself was childless.) But the rest of us cannot feel much comfort knowing that, in the long run, when we are dead, our children and grandchildren will be dealing with our fiscal legacy.
In 1936, Keynes wrote, “Practical men, who believe themselves to be quite exempt from any intellectual influence, are usually the slave of some defunct economist.” In 2008, no defunct (dead) economist is more prominent than Keynes himself.
By N. GREGORY MANKIWPublished: November 28, 2008
Hind sight is 20/20 no?
Policymakers will use a Keynesian lens, therefore Mankiw is a Keynesian. Absolutely brilliant. /s
What the hell is that supposed to mean? Do you have a point, or do you just feel like sharing cliches?
By N. GREGORY MANKIW Published: November 28, 2008
How DARE he speak of Keynesian economics!!! He’s an economics professor!!1!!1
You guys really need to check out this thread, it’s really taken a turn for the absurd. Mankiw must be one of them “intellectuals.” Vote Ron Paul!
Going for help?
Because I reject any and all intervention by corrupt governments into the free market.
The only legitimate action the aforementioned can take with a positive effect is reduce the Tax burden.
Sticky prices?
More like a Government with sticky fingers.
Like hell I didn't.
Mankiw was chairman of Mr. Bush's Council of Economic Advisers.
And Mr. Bush was no fiscal conservative.
Wonder where Mr Bush got his advice from?
Didn't like him then, don't like him now.
You just think everyone is stupid but you.
Your scree-name suits you well.
Sorry. Maybe you had a passing acquaintance with Mankiw before you saw this thread . . . still doesn’t explain why you post articles of his that you haven’t read . . . BDS, perhaps?
No, everyone is not stupid. Just you.
Nice, can't win a difference of opinion with thew facts insult them.
Have a nice Day.
Listen wiseguy, if you can’t handle personal attacks, then perhaps you should reconsider being condescending in the first comment you direct to someone on a thread. Just sayin’, man up.
Well good!
Mankiw endorsed the bailouts.
Mankiw Is a Keynesian.
Mankiw did President Bush just wonders with his attutude towards government spending.
History writes it self.
Mankiw was also Mitt Romney’s Economic Adviser.
Consertives NOT.
Mankiw was also Mitt Romney's Economic Adviser.
Conservatives NOT.
Normally, I'd ask for sources . . . but I'd rather you read them first.
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