America seems very confused about the nature of its economic system. Many criticised the government's decision not to rescue Lehman's a year ago, then we a saw an unprecedented fiscal stimulus package to fight recession. Now, republicans are on the streets protesting against "big government" in the form of healthcare reform. Is Obama really trying to move America to the left or is he just bringing provision of this merit good in line with other wealthy economies? Meanwhile, the French are kicking up a fuss over pay and bonus regulation - arguing for more government intervention in the market. Did the financial crisis prove that the capitalist model is fundamentally flawed or is it still the "least worst" system? The debate continues.Monday, 14 September 2009
America's debate on "big" government.
America seems very confused about the nature of its economic system. Many criticised the government's decision not to rescue Lehman's a year ago, then we a saw an unprecedented fiscal stimulus package to fight recession. Now, republicans are on the streets protesting against "big government" in the form of healthcare reform. Is Obama really trying to move America to the left or is he just bringing provision of this merit good in line with other wealthy economies? Meanwhile, the French are kicking up a fuss over pay and bonus regulation - arguing for more government intervention in the market. Did the financial crisis prove that the capitalist model is fundamentally flawed or is it still the "least worst" system? The debate continues.
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