Thursday, February 12, 2009

Mortgaging the future

Twelve Quebec economists have issued a declaration opposing "stimulus" spending.

Part of it reads:

The massive programs of expenditure and regulation that the federal and Qu├ębec government are pushing are essentially meant to satisfy the demands of organized interests.In the light of economic theory and history, we think that those measures, far from rebooting the economy, will mortgage the taxpayers’ incomes, make producers even more dependent of the state, provide stimulus for protectionism, and set the scene for even worse turmoil in the future.

Check it out. You can also vote in favour of their statement.

2 comments:

Anonymous said...

How can anyone claim to be an economic expert? If your an expert then dont you think you should have been sounding alarms years ago? Not alot of experts predicted the mess we are in now, so, how can anyone say what will or wont work? Its like a watching a sporting event and then when the game is final saying "ya..I knew we'd win"....!! billg

AToryNoMore said...

Gerry,

I don't mean to be repetitive, but here is an excerpt below of what I put on your blog on Saturday November 29, 2008.

It is now more true than ever. It is a real philosophical struggle. Philosophical from the standpoint of knowledge and wisdom.

P.S. I always though I would go back to the conservatives when Harper was no longer the leader. I find it chilling now that even if Harper were to leave, there is still no political place for me to go.

It is tough to support a political party that no longer supports me.

(The excerpt from November starts below this solid line.)

___________________________________


Do we support a free market economy as the conservatives do (although in the last several days they don't act like it) or do we recognize the need for some government intervention and stimulus in any economy and to what degree.

The question becomes whose economic principles do we follow, a free market economy or one with intervention?

That will become the decades long debate well after this political action.

12:00 AM