Frequently Asked Questions
Below are commonly asked questions relevant to today’s issues. Click on the red links to see further explanation of the answers.
Question: How bad is the current economic crisis?
Answer: Worse than you likely think.
Question: Since capitalism has failed, what will work better?
Answer: Capitalism has not failed. Our economic system is not a capitalist model. Government intervention in the economy has caused it to function improperly.
Question: Why are healthcare costs so high?
Answer: Extremely overdone levels of government regulation are at the core of rising healthcare costs.
Question: Shouldn’t we implement universal healthcare so that everyone receives insurance and health care?
Answer: Deceivingly many people that are currently uncovered choose to go without insurance. Many people under universal healthcare systems also go without healthcare. Universal healthcare does more harm than good in the long run as it is inevitably an insolvent model.
Question: Is man really the cause of global warming?
Answer: There is extreme uncertainty about global temperature change and the actual cause.
Question: Are we fighting global warming effectively?
Answer: We are limiting ourselves to a one track approach while the problem could be much broader. This increases the probability of failure and catastrophe.
Question: Why can’t the government control capitalism and all of this corruption?
Answer: Government organizations and government regulation are inherently flawed and actually cause the problems (including today’s problems) that make capitalism seem unstable.
Question: Shouldn’t the government crack down on all this corporate greed and corruption?
Answer: There would likely be less ability for corporate greed and corruption if government regulation were replaced by private regulation. There will always be corruption and greed in the world, but it is minimized through capitalist, private market mechanisms. On the flip side,corruption is inherent in the concept of government.
Question: Since companies charge whatever they want so they can make big profits, shouldn’t price controls be put in place for fairness to consumers?
Answer: Prices are actually defined by what consumers are willing to pay. Price controls cause harm to more people than they help. Profits play an extremely important role in the economy.
Question: It seems like Bernanke and Geithner are qualified for their positions, and it seems like Greenspan did a good job, but why does the economy keep going through times of turmoil?
Answer: These people’s positions are in organizations that assume the ability to control an economy. Economies are largely subjective and infinite impacting variables cannot be known to the controllers. It is fundamentally impossible to accurately centrally control an economy.