SOCALHUSKER Posted June 26, 2009 Share Posted June 26, 2009 An interesting study on the current economic crisis. Causes, effects and solutions. An Austrian Perspective - The Great Recession of 2008 Some sound advice from the text: "Is the Austrian perspective then left with a “do nothing” approach to recessions? At the level of “stimulus” packages and similar sorts of specific policy interventions, the answer would be “yes.” But in two other ways the answer is “no.” First, saying that government should do nothing is hardly the same as saying “we” should do nothing. In fact, recovery from recession depends upon active and creative entrepreneurship on the part of millions of economic actors. The Austrian perspective argues that it is they who should be “doing something.” However, that perspective also recognizes that government policymakers cannot know what it is that all of those actors should do, so for the entrepreneur-driven recovery process to happen quickly and effectively, policymakers must refrain from interfering with that process and also take steps to ensure that policy creates a stable and predictable environment in which those entrepreneurs can operate. The primary objective for policymakers should be to minimize Higgsian regime uncertainty and thereby facilitate the countless individual adjustments that are necessary for recovery to take place." Link to comment
SOCALHUSKER Posted June 29, 2009 Author Share Posted June 29, 2009 SOCAL/AUSSIE HUSKER???? ????????? Link to comment
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