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nonclassical writes:

in response to allanrripley:

You are wrong. The guy that patented this idea was wrong and every attempt to implement policy based on this idea has failed.

Consumers do not create jobs- they consume. Entreprenuers, believing they have an idea that will make money for themselves, borrow capital, build, buy, or lease facilities and equipment, purchase production goods, and hire labor- all to create this product they think will sell. Jobs are created.

Those jobs are, in fact, not invitations to settle into a lifelong "career". They will continue to exist only as long they produce more revenues than they cost. Any changes in the market- changing consumer tastes, cost of capital and prduction goods, tax policies, government's regulatory interventions, competition- will have impacts on the business- usually negative- and so on the jobs that were created.

To everyone who complains that the government isn't doing enough to "create jobs", I offer this challange: start your own business. After all, as CEO you will be able to pay yourself an obscene salary.

This experience will change the way you think of employment, I promise you, and if you pay close attention, you may learn something about economics.

...allan conflates history yet again, to his libertarian ideology...

Perhaps you would care to explain to people here the REASON Reagan chose to save BANKS during his administration, and not just once or twice-hundreds failed
during his administration-you appear to not wish to discuss actual history, Allan...

Reagan NATIONALIZED banks...rather than allowing them to FAIL:


"McGill University economist Naylor depicts a postWW II intercontinental inferno of high finance involving deceit, corruption, fraud, greed, conspiracy, tax evasion, drug dealing, arms smuggling and politico-monetary "peekaboo" sleight-of-hand as government VIPs worldwide, international bankers, labor unions, the CIA, the Mafia, the Vatican, Moonies, Latin American juntas, African potentates and Middle East terrorists, Hong Kong and Panama innovators, COVERT CONTRA AIDERS (Reagan CIA) and assorted illicit combines variously divert billions from the economy of nations. Secret Swiss and "offshore" bank accounts, dummy corporations and the like siphon off "hot money," which in some cases, may equal a country's entire national debt. "There would be no debt crisis," he concludes, "without large-scale capital flight."

"Free markets"=flying monkeys=Allan...
