Posted on 02/16/2009 4:05:51 PM PST by Crimson Politics
The economy is a very difficult subject to understand, everyone thinks their method is best. The problem being that the economy is such an open system that it is hard to determine for sure the best economic policy which would result in the best economy as well as the best society.
(Excerpt) Read more at crimsonpolitics.com ...
Whole bunch of economics over here for your consideration.
I see you caught my JasonC post. LOL!
Don’t show that one to the protectionists. Not that they’d understand if you did.
All those charts...it’s like I’m back in undergrad.
Kegger tonight?
Excellent charts and graphs man, really good stuff!
However, the Economic freedom & Political Freedom one is not true, completely false (it’s somewhat of a correlation not cause-effect).
Agree that correlation is not causation, thus the careful wording “go hand in hand.”
Historically, it is difficult, but not impossible, to have economic freedom and not political freedom. They tend to “go hand in hand” because a) economically free people tend to assert their political rights, and b) regimes willing to allow freedom in one sphere tend to allow it in both.
China is of course the major historic example to the contrary. Almost by naming China as the anomaly, it proves the rule.
Nonetheless, your point is correct and well taken. The graph does not show that political freedom causes growth, wealth or income. I looked for that precisely, having a recollection of seeing it before, but it did not pop as a graph in Google. Perhaps my recollection is faulty. Thus the weaker correlation rather than causation argument.
Consider fact that economic freedom means being free to feed ourselves, provide for our families, support our religions. Economics is a really big part of life.
OK, China is an anomaly, so we can look closer and see first it's finally growing economically now that it's finally also opening up other freedoms, and second that it failed for decades to have one without the other.
But there is positive causation related to the negative of the 2 freedoms. What I mean is that history has not proven that economic freedom always leads to broader political & personal freedom, but it has proven that central planning leads to broader types of oppression.
Central economic planning (whether it’s socialims, fascism, communism, etc) invariably fails its stated goals, leading the arrogant central planners to become increasingly more oppresssive and to expand its areas of control.
Freedom must be earned with each generation.
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