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Higher increased government spending has proven to increase the economy for a small amount of time, so economists (Keynes) say to save during booms and spend during dips in order to help out
Due to the 1987 Constitution of the Philippines, our economy along with our government are being held and controlled by the Evil Oligarchs, putting some restrictions to Foreign Direct Investors to invest in our country by implementing 60/40 Foreign and Local Business ventures. All countries around the world don't have this restrictions, probably there's some. And our constitution also have pork barrel, PDAF, that creates gridlock and corrupt politicians. You may see that our country is somehow progressive but our economy here is being monopolized by the oligarchs, which the effect, leaving the poor, drowning in poverty, while the elite's and higher social class are dragging themselves to richness. Since our constitution have a Unitary-Presidential form of government, having a Unitary territorial Administration, makes our the capital of the Philippines, the central of our government became more congested, because it has a higher wage rate compare to the other provinces having lower wage rate that the people from the other provinces are moving to the central/capital seeking for better opportunity. And with Presidential form of government, our kind of election here became a personality based, leaving behind their political platforms and programs valuable every campaign, and political dynasties became so rampant, and with that vote buying emerge, and our Opposition here is being obstructionist and somehow not being reliable. That is why our recent administration are pushing constitutional reform, advocating the FEDERAL-PARLIAMENTARY form of government and abolishing the restrictions to FOREIGN DIRECT INVESTORS, by removing the 60/40 rule so we can have a FREE ECONOMY.
How about the economic train wreak called the obama administration. 8 years of a flat 401K no groth. Proof of bad leader ship.
Without regulation, giant companies will become monopoly that can exploit consumers.
govt spending should only be for the military; there should be no regulation (except upon companies under govt contract or in cases of fraud); there should be no welfare state; there should be no subsidies or bailouts; there should only be an LVT & the pre-1913 method of apportioning said taxation to population by the federal govt should be restored (i.e. state govts should collect the LVT & then give some of the proceeds to the federal gov’t); there should be no central bank (only free banking—but perhaps w/ a Hamiltonian NATIONAL bank) & banks should issue their own banknotes (where they would also agree to accept one another’s notes) backed by their reserves of gold and silver specie (both of which are minted by the US Mint, & freely-coinable there (w/ only refinement fees) & w/ international agreements leading to the ratio of gold to silver returning to the historical levels (anywhere from 1:9 to 1:16))
Good video about this situation with the government and economy, the US national debt will be much less if government did not intervene in the economy.
Tariffs are anti-free market too
I have a genuine question to ask. Many of the videos from prageru suggests that government must not interfere with private market. If such is the case then who guarantees security. Do we not need an assurance certificate to let know the product or service is safe?? Will it not lead to raise in more number of people like Jordan Belfort or Bernie Madoff?
If Prager U is going to be simplelistic with their misinformation, then it was "Too Big Too Fail" banks, bankers and insurance firms with their bad loan derivatives caused the 2008 financial crisis, not the "government pushing bad loans to lower class people".
We were trying it for 40 yrs, nope. Stay aware of that.
it already has
Many world wide historical examples of socialism failing on a grand scale since Russia in 1917 to Venezuela in 2019! Learn from history people!
No! Unless one desires socialism.
In private industry if u dont produce ur out of a job but in government it doesnt matter how much u mess up ull always have a job so there is no incentive to do better
Actually, there are essential roles for government in the economy AND society.——Regulations are absolutely necessary to protect the health and welfare of the population.With 80,000+ industrial chemicals in the environment, who will protect the people from harm ?Will companies police themselves to be good citizens ? no. If something is not illegal, then it is legal and will be done.——-Companies exists to generate a profit, not to be charities and not to be good citizens.If a science or technology is too immature to generate a profit in the foreseeable future, business will not support it.Even venture capitalists needs to see light at the end of a fairly short tunnel.Government needs to incubate fundamental science and technology. No one else will…——-Government control of the business cycle has decreased the depth and highs of recessions and booms.In the 1800s, hundreds of banks would fail in any downturn. Many people lost life savings when banks failed.Today, banks are supervised from excessive lending; hence, accounts are guaranteed by govnt.——-The 2008 financial crisis was caused by exotic financial instruments due to deregulation of banks in 1998.When lender were allowed to resell packaged loans to other investors, they did not care about the quality of the loans they were making. Basically, give a loan to anybody with a pulse.
Less jobs is more? I would have to dis agree with “less is more”
They promise to be apart of the economy and growth. But Are the competent enough to do it? Solve economic issues and get rid of inhumane things like poverty and create more equal opportunities.
Actually, the USSR and the entire Warsaw Union are enough proof why government shouldn't rule the economy.
And China, while identifying as communist, is hyper-capitalistic.
That would be a command economy, and the same type that the CCCP had. We see where that got them.
Im a conservative, but i think climate change is a problem, but i know with innovative from the FREE CAPITALIST societies, it will be tackled shortly.
How u explain China?
The EPA does play an important role. What cost will the environment pay for our advancement. I'm a conservative but I think the environment should be preserved at the same time.
And remember, if a government has a total control over the economy, there are shortages of almost everything
This is an over simple explanation right wing can be so tunnel minded sometimes
Apple is OVERRATED and I blame the stupid Apple fanboys for buying that phone like a bunch of zombies. even Samsung is overrated.I would rather buy a Oneplus6, Nokia 7 Plus, Xiaomi, Asus or any other affordable high or mid-range smartphone. Thank God for competition and freedom of choise for consumers that the entrepreneurs give us.
The government already does, as anyone who has started a business, sold something, bought something, paid taxes, used a credit card, or been alive knows.
Bernie Sanders, liberals, the Young Turks, etc. keep claiming that Canada and Western European countries are examples of a successful welfare state. They often point to the countries' low levels of income inequality, growing middle classes, and high median incomes. But what those people don't mention is that the countries have been embracing free market principles and even reducing the need for government assistance. If you look at the Heritage Foundation's index of Economic Freedom, Western European countries and Canada have drastically improved their scores since the think tank had started the reports in 1995. How about America though? The "land of opportunity" had fallen behind those nations, from a spot near the top a long time ago to 17th place. As the most recent report stated, America had moved in the opposite direction wen compared to the rest of the world. After all, it's no wonder why wages and the American middle class are stagnating, while Canada and Europe continue to become more prosperous. A million kudos to Mr. Forbes for emphasizing the importance of capitalism in this video.
What about China? They have massive economy growth, yet they are dictatorial communist control!
I respect and sometimes even share the ideas of most PragerU videos when it comes to economics , but blaming the house market bubble on excessive government regulation is completely absurd and irresponsable.
I want to hear PragerU's opinion on saving banks during the sub-prime crisis, and on a "to big to fail" notion…
0:28 a piston moving in a fixed cylinder cannot be attached to a beam directly as the latter moves in an arc. Watt's parallel motion is one solution- see wikipedia.
1929 Great Depression…
They can't even run their own bathwater.
To those talking about scripts. Almost every organised/professional channel uses them. Even magikarpusedfly.
Yes, the government CAN run the economy.Just not very well.
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