Favorite Economic System

[Bo]

Option 3 for me.

[phk]

Reality, I guess.

[Bo]

Who voted for Mercantilism?

[phk]

Anybody who votes is a dumbass.

[Derek]

My idea of a solid economy is complete free trade and low taxes. When I run for president I will set for an agenda to create a system where there is no federal income tax. The government will be funded through fees and tolls. Very low tariffs if any. Social security stays the same as it is as does medicare and medicade.  We can still have government services without income tax. I would also repeal excess taxes on beer, cigarettes, and tobacco.

Health care: health and medical savings accounts that work similar to social security
                    competition across state lines for insurance companies
                    require companies to provide private health insurance for full time employees
                    possibly create a public option for those who qualify and are uninsured

I don't like the idea of tort reform any more than I like the idea of a death panel. I know the topic is economics but I thought I'd cover every economic issue I could think of.

[k-onmmunist]

Anarchic capitalism.

[opebo]

Anybody who votes is a dumbass.

Why's that, phknrocket?

[jokerman]

Economic systems are purely historically contingent.  Why would I "choose" one like I would choose my religion?  That's like stating a dogmatic preference for a particular drug; I will take whatever the doctor prescribes for any particular condition.

[Scam of God]

This aren't the only possible options. Generally, I believe in free markets, but certainly not markets in which massive cartels, in collusion with the State, block small businesses from offering true competition, as is now usually the case. We need to decentralize economic power in this nation.

[Grumpier Than Uncle Joe]

Option 3

[jokerman]

This aren't the only possible options. Generally, I believe in free markets, but certainly not markets in which massive cartels, in collusion with the State, block small businesses from offering true competition, as is now usually the case. We need to decentralize economic power in this nation.

You can't really do that without repealing the rights of a corporation.  I mean do really expect power of any sort to be decentralized whenever you repudiate all political power of the masses yet grant free reign to most authoritarian organization of all, the corporation?

[phk]

Anybody who votes is a dumbass.

Why's that, phknrocket?

No serious economist ever talks about this anymore.
These are perhaps good topics for maybe Political Scientists to have fireside discussions over.

What I'd recommend is reading Econ books or taking Econ classes to develop a worldview rather than fighting over labels.

[Scam of God]

This aren't the only possible options. Generally, I believe in free markets, but certainly not markets in which massive cartels, in collusion with the State, block small businesses from offering true competition, as is now usually the case. We need to decentralize economic power in this nation.

You can't really do that without repealing the rights of a corporation.  I mean do really expect power of any sort to be decentralized whenever you repudiate all political power of the masses yet grant free reign to most authoritarian organization of all, the corporation?

Certainly not. Simply be completely repealing all copyright law (all inventions immediately become public domain) and radically revising or ending most subsidies we would create a fear more level playing field.

[Marokai Backbeat]

Socialism, but the choices are atrocious.

[Lief 🗽]

decentralized workers' cooperatives.

[True Federalist (진정한 연방 주의자)]

Certainly not. Simply be completely repealing all copyright law (all inventions immediately become public domain) [...]

It would be interesting if patent law and copyright law had equivalent terms.  I wonder how much support there would be for our current overlengthy copyright periods if patents were also life of the inventor plus 75 years (or 95 years for corporations) instead of 20 years.

That said, while we do need intellectual property reform, we definitely don't need to discard the whole system.

[Scam of God]

That said, while we do need intellectual property reform, we definitely don't need to discard the whole system.

I don't see what use there is in keeping it at all. The Internet is quickly rendering the very concept of intellectual property irrelevant.

[k-onmmunist]

decentralized workers' cooperatives.

Actually, this is a good idea too.

[Scam of God]

decentralized workers' cooperatives.

Actually, this is a good idea too.

Agreed. So long as the State isn't supporting it, I have no qualms whatsoever with the worker's movement.

[opebo]

Anybody who votes is a dumbass.

Why's that, phknrocket?

No serious economist ever talks about this anymore.
These are perhaps good topics for maybe Political Scientists to have fireside discussions over.

What I'd recommend is reading Econ books or taking Econ classes to develop a worldview rather than fighting over labels.

But asking an economist what kind of economic system we should have is rather like asking the plumber what colour your commode should be.

[True Federalist (진정한 연방 주의자)]

That said, while we do need intellectual property reform, we definitely don't need to discard the whole system.

I don't see what use there is in keeping it at all. The Internet is quickly rendering the very concept of intellectual property irrelevant.

Tell that to all those people paying for downloads at iTunes and similar sites, and for e-books to put on their Kindle to read.  While file sharing has affected copyright holders, it isn't going to kill off copyright.  What it has done is severely weaken the role of publishers as the gatekeepers for what is heard, viewed, and read.  Hence, people are less willing to pay the a premium for performing that gatekeeper role, possibly to the point that the concept of a publisher will become irrelevant.  However, publishers are not a necessary component of intellectual property.

[Derek]

The fact that we are on the internet implies that we are supporting the free market as we speak. However, there are some downfalls with pure capitalism such as illegal immigration, sweat shops, and environmental hazards.

[MK]

Socialism, but the opt of "reformed capitalism" would be my other pick.

[Scam of God]

That said, while we do need intellectual property reform, we definitely don't need to discard the whole system.

I don't see what use there is in keeping it at all. The Internet is quickly rendering the very concept of intellectual property irrelevant.

Tell that to all those people paying for downloads at iTunes and similar sites, and for e-books to put on their Kindle to read.  While file sharing has affected copyright holders, it isn't going to kill off copyright.  What it has done is severely weaken the role of publishers as the gatekeepers for what is heard, viewed, and read.  Hence, people are less willing to pay the a premium for performing that gatekeeper role, possibly to the point that the concept of a publisher will become irrelevant.  However, publishers are not a necessary component of intellectual property.

And as I've said before, the rise of three-dimensional printing is going to kill all of that. When you can produce, in your own home, virtually every invention that has yet been invented, and the only thing stopping you is the State - the Federal government, to which you, Federalist, are nominally opposed - then you will change your tune in rapid succession.

[opebo]

That said, while we do need intellectual property reform, we definitely don't need to discard the whole system.

I don't see what use there is in keeping it at all. The Internet is quickly rendering the very concept of intellectual property irrelevant.

Medical patents are the only ones that matter - no one really cares about silly nonsense like music or writings.