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TOPIC: Social Issues and Politics
[Head banger] Wednesday, April 29, 2009 1:24:10 PM 

Interdependent economies

 

This is a double edged sword, but in the long run is beneficial for all.  Sure if the USA tanks their economy it’s going to hurt everyone, but when they are strong it benefits everyone.  The pooled approach is like insurance though; it spreads the risk, with a bunch of closed economies if something goes wrong, that country suffers huge problems.  Now as an economy is changing in any way or structure it is more vulnerable, and that is showing right now, but the economies where people benefit the most are the ones where the individual has the most control, and that is thru the market economy.  When an artificial force acts on the market, it throws it out of balance.  Sometimes that’s necessary, even good, extreme growth needs to be limited, as does any abuses of individuals or the environment, but excessive interference in the way the free market works slows down the growth for all.  Personally, although I would never want to try it, I THINK that if you got rid of all min wage standards you would end up with a higher average wage in a year’s time.  Probably a few would suffer though, and they would be the most vulnerable so that’s why I say I wouldn’t like to try. 

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