"One man running the entire economy is way too much to swallow. He would have way too much power, and these days, anybody would abuse that power, even if they swore not to. "
Why would a politician abuse his power, when he got all that money coming in from lobyists...."sarcasm"
" Basically, the USA and the UK do not provied the world with anything much these days... only money. And the banks lost all of that so really we're screwed for a good few years. "
Hey look all we have to do is borrow (more) Chinese money. Then they can dictate our policies! "
@RJMacReady: "Progressives, i don't believe, understand this property of the market"
Progressives, masters of the universe, blond hair blue eyed boys of the west, or whatever you call them, dont know their economic history, all that has happened, has happened before.
My impression is that Niall Ferguson is for free markets, so not a communist.
Governments generally dont run the economy (my error), but they can influence it with legislation, taxation, monetary policy ect..... Look at the Chinese deliberately keeping their currency devalued. To quote Niall, "The USA gets 10% unemployment and the Chinese gets 10% growth"
My comment was really about having an expert in the field of economics (and history) in charge I.E as the Chancellor of the Exchequer (uk).
Naill seems very good at cause and effect predictions using an impressive knowledge of economic history. He did see the crash coming!
He would get my Vote :) and I highly recommend his book or TV series "The Ascent Of Money", Quote "not knowing this stuff can seriously damage your wallet"
The Ascent of Money - Britsh TV Channel 4 Prof Niall Ferguson gives a facinating historical insight into all things financial, yeah I know that sounds boring bit its really not, honest. His blog is a good read http://www.niallferguson.com
I recently watched a series on British TV called the Ascent Of Money, by professor Niall Ferguson. If you get a chance I highly recommend you watch this or read Niall Fergusons blogs on his web page http://www.niallferguson.com
If only someone would let him run the British economy we would be "sorted" :) or maybe Vince Cable...
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