|By Thermodude (Thermodude) on Monday, September 06, 2004 - 10:27 pm: Edit|
I always hear individuals using this argument. While politicians don't directly create jobs, often times, they do play a significant role in shaping the economy, and thus, affect jobs. An excellent example of this can be found when the United STates was just forming. Prior to 1790, the US economy was in shambles. Inflation was running rampant, and the very survivual of the US lay in question. Luckily for the US, there was a brilliant Secretary of the Treasury in Washington's department, Alexander Hamilton. Hamilton, through his economic wizardry, established policies (such as his establishment of the national bank) which set the nation back on firm economic footing. Indeed, I think most historians and economists will agree that Hamilton had saved the US economy, preventing it from collasping (In the process, Hamilton saved many corporations and thus saved many jobs). Now, if this isn't an example of a politician exerting major influence over the nation's economy, I don't know what is.
|By Shortcakefairy (Shortcakefairy) on Monday, September 06, 2004 - 11:35 pm: Edit|
there are TONS of other factors that affect the economy besides who happens to be in office.
this is what bothers me when people are overly pessimistic about today's economy
1) Bush INHERITED a recession when he came into office
2) September 11th! We were attacked and that had a HUGE impact on the economy! how can people expect things to be perfect. We're lucky things are going at the rate it is.
3) Recent corporate scandals= uncertainty and lost jobs--> never a good thing
3) Though it's not happening at a fast rate, the economy is still doing considerably well historically (unemployment is at about 5% and decreasing) and the economy is growing also about 5% a year...which is really remarkable considering all the impediments that should be blocking it from doing so.
|By Valpal (Valpal) on Tuesday, September 07, 2004 - 11:30 am: Edit|
The Secretary of the Treasury doesn't have anywhere near the power that Alexander Hamiliton had in his time. Now Alan Greenspan---there's another story. When Alan talks, decision makers listen, and markets shifts on the wind created by his words. The Federal Reserve is the worlds largest PRIVATE bank, not a governmental agency as most people are somehow led to think. But it wields massive amounts of power not many governmental offices can touch. Alan Greenspan has been its CEO for many a year and he's seen "presidents" (little "p" intended) come and go.
But the man who sits in The Oval Office (whoever he might be at the time) is the world's biggest target. Many times, he gets blamed (or less often, praised) for economic conditions he did not put into motion and is virtually powerless to change. But it's the man (men) behind the curtain that really pulls the strings. Interestingly enough, The FED is seldom a target of critism for the decisions it makes, nor is it blamed for the long term effects of those decisions. Heck, Old Alan wears the world's best Perma-Press Teflon suit. Now that's power!
|By Valpal (Valpal) on Tuesday, September 07, 2004 - 11:35 am: Edit|
Question: Is Alan Greenspan a Democrat or Republican? Answer: It doesn't matter.
|By Valpal (Valpal) on Wednesday, September 08, 2004 - 01:22 am: Edit|
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