Lesson #27 - Clashing Views on the Economy

David Ricardo

As a firm capitalist, I have no choice but to believe that the United State's current stock market crisis is due not to the wise and noble business owners, but to the consumers who refuse to participate in the maintenance of this flawless economic system. Furthermore, I strongly disagree with the Democrats of the nation, who opposed the bailout bill because it would, "provide the wealthy figures with even more wealth and would do nothing to aid the middle class manage their failing loans and mortgages." I believe the underclass is meant to remain static to their name. Never shall they be given handouts from the government or aid from help programs because, as I have always said, cheap labor and human resources equals more profit, and we certainly don't want to purposefully destroy this wonderful economic system by siphoning our wealth. For this reason, I propose a conservative approach to the bailout plan to allow the large business figures to operate freely and correct the current market inconvenience.

KARL MARX

Upon assessing the current economic situation in the United States, I firmly believe that the crisis is completely the fault of the United States’ capitalist economic system. There is too little regulation in the United States economy, and millions of American families are paying the price for it, to the tune of $700 billion. If the United States economy had been communist from the beginning, the tightly controlled markets of a communist system would have prevented the various banks from collapsing. In addition, the current mortgage crisis would be non-existent – there would be no need for struggling families to go into foreclosure, because they wouldn’t need to worry about paying for their homes as everything already belongs to the people. In short, all of the United States’ economic problems could have prevented if the United States had a communist economy.

Karl Marx (Avalon Levey)

I have to believe that the widening gap between the proletariat and the bourgeoisie in the United States is a hint towards what I have always envisioned. America will run itself out of power, economically destroying its own empire. America is a seriously capitalistic society, and the number of poor people is extreme when compared to the number of the Super-Rich people. Since the economic system is helping the rich get richer and the poor get poorer, the large proletariat group will see this, and revolt. Seizing the companies from the bourgeoisie, they will produce all that is needed, keeping society running, while simultaneously removing the ultra-rich from their capitalist thrones. Bringing about economic equality and a classless country, the democratic conquerers of the west will find themselves operating in the government form that they despise most - Communism.

Mason Ferlic

I am Charles Fourier, a strong advocate and supporter of socialism. I socialism, the factors of production are owned by the public and operated for the welfare of all. I believe that the government should plan the economy, and not rely on a free-market capitalism system. Socialism will end poverty, promote equality, and help workers. The United States is in a downward spiral because of capitalism controlling the economy. The government should take control and help move the market to be more socialist. A good example is the collapse of wall-street and the call for a 810 BILLION dollar bailout because capitalism failed. With the bailout the government will take control and plan the economy to help prevent another major collapse. I am in favor of the bailout to improve equality and prevent greedy capital take overs of the people and the market. The economy needs the fairness and insight of the United States Government to prosper and succeed.

I, David Ricardo, believe that the gas prices should stay at a relatively high price. If we keep importing, foreign trade could not directly increase profits, but profits would rise in response to wages. So if the wages go lower, it will hurt the economy. I believe this problem should be settled by keeping a high price on the oil and keeping cheap labor and human resources. And letting the large oil companies keep their prices high and maximizing wealth of America. As an adamant capitalist I feel that cheap labor, maximizing wealth and human resources are necessary for a strong, capitalist economy.

Rex Hendrickson

I, Thomas Malthus believe that we should continue the war in Iraq. Because we have cured most diseases and therefore don't have as many epidemics, our population is rising more rapidly than our natural resources. We need wars to help keep the two in balance. If people keep reproducing so fast, they all will want the same thing, natural resources. But our natural resources aren't growing with or population, in fact, they are diminishing from what we've already used of them. Therefore, the war in Iraq will help put a little more balance into that equation.

Kate Roach

I am Karl Marx, creator and advocate of Marxism (also known as communism.) The U.S. economy is in its current state because of its capitalist influence. If the U.S. leaned toward a communist economy, the middle class would not need so much assistance. In a communist economy, all citizens would have an equal share of wealth and as a result there would be no classes hindering economic growth. Without a poor population, there would be no poverty or starvation. No government interference would bring more freedom and power to the U.S. citizens. It would help strengthen the people and their overall sense of equality and Nationalism. If the people of the United States want to grow and leave behind their economic mess, they should bring communism into consideration.

With the recent passing of a bailout bill for eight hundred and ten Billion to failing lenders the Senate has taken has taken a step in the right direction. With more and more investors pulling out of the market due to the fear of a failing market it is time for the government to step in and do its part to protect its people. Without aid from the government investment giants that are failing will leave millions of people without insurance or stable mortgages. This would cause financial disruption and even loss of all finances for many families with little or no saved for just this occasion. While it will be very expensive it is the necessary thing to do because just letting these companies die would ruin lives and devastate many. It is true that there are those that would see little of the collapse because of their financial stability however as humans we all have the obligation to help the fellow human and progress society towards social justice. That is why it is absolutely imperative that the house now pass the bill passed by the Senate.

I am Thomas Malthus, and i think we shouldn't protect and help the people dying and getting harmed by the hurricanes. first of all, there hasn't been a whole lot of major incidents that has decreased our population. this could be a good thing to lessen our population because we're on a rapid growth and our resources/food supply doesn't grow as fast as we do. Thus we would weaken a lot of things trying to help them, such as: money, time and materials, while they could just perish and we wouldn't start heading into poverty.
Danny Englebretson

Gas prices - Adam Smith.

The price of gas has continuously gotten larger over the years. Currently the gas price is around $3.19. To fix this problems their are a few things that can be done. What needs to be done is we need a number of different oil companies finding new places such as Alaska to dig and find a new supply of oil. The idea of competition will help us find oil faster, which will allow prices to go down. To get this accomplished the heads of the oil companies need to take it into their own hands to get themselves and their workers to Alaska and start getting a show on the road. With the ideas above their will be enough oil and will be produced at a low enough price and meet demand in the market economy. To get these heads of the oil industry motivated to relocate in Alaska i suggest that we force them to move there, then in the end we will be making a profit because the oil will be cheaper if we have cheap labor and cheaper oil.

Jenna birch.

Karl Marx - The "Bailout"

It is no secret that I, Karl Marx, believe in a communist society. And, the truth is that if America had followed my ideas and values for controlling an economy, they wouldn't be in the poor economic state they are in now. If America had utilized a communist form of government, three major things would have happened. First, the banks wouldn't be in their current situation because they wouldn't have enough power to get into that much trouble. If less power was given to companies, especially large companies, the government would be able to guide them into the right decisions for everyone involved. Second, under communism rule, individuals do not own pieces of property. Therefore, citizens would not have to worry about paying mortgage or keeping their homes. The economy would not have fallen so far behind because they wouldn't have been relying on individuals to keep money flowing. Thirdly, fewer people would be in such significant debt or bankruptcy under communist control because they wouldn't have had personal money. Communist government requires a community. All of the money would have belonged to the community, therefore eliminating the reliance on individuals being able to pay for their expenses. In conclusion, if the american economy had utilized communism they would have prevented the events that lead to the poor state their economy is currently in.

Ryan MIller

Karl Marx

I believe that capitalism is failing us. We are destroying ourselves. The rich are getting richer, and the poor are getting poorer. People that are poor are trying to climb a broken ladder. They can't get up because to gain good money, you need a good education, and to get a good education, you need money. So the rich can afford to get good education, and continue to gain good money, but the poor can't pay for good education, so they can't move up the ladder. If the US were communist, the government would be much better, and the big companies would have gone out of business. If it was communism, everybody would be equal, and share the wealth. All of you should switch to communism, or Marxism.

Karl Marx
After recently witnessing and assessing the free fall that the United States' economy is in, I can conclude that it is the fault of their basic economic principles of capitalism. As any logical and sane American who is reading the papers would agree, capitalism has failed the United States. First of all there is too little oversight and regulation over the economy causing capitalism's true colors to show, an economic crisis including a debt of around $700 billion. As my manifesto clearly states, communism would solve all these problems. First of all, the government controlled markets and economy of a communist government would not have had to face the problems of various banks and investment firms collapsing, desperately in need of a loftily priced government bailout. Secondly, the home foreclosure crisis would not even be an issue, given that the house of the family is already owned by the government and the people. Overall, the United States' economic crisis would be non-existant had the U.S. adopted a communist economy in the first place.

Name, Thomas Malthus. Belief, EXTERMINATING. Hurricane trouble and the war in Iraq are things that should be looked upon with brilliance. Because of too much teenage, and unwanted pregnancy, Human population is increasing faster than our natural resources. With the help of wars and environmental incidences, like the war in Iraq and hurricane Ike, human population can decrease and balance the two growths. If population gets too high, our natural resources will run out because too many people rely off of them. if he lower the population, it will give the resources time to "reproduce."

By Zan3

Karl Marx

Since the very kind Mike Vergin commented on my lack of writing skills, I’ll try to live up to that standard.

Much of the current economic crisis is a result of problems in the housing market. It has become increasingly difficult to get mortgages, and pay the mortgages people already have. The result is that there is less credit to buy homes or cars, or other expensive purchases. The prices for homes decreased, there was reduced production of goods, and rising unemployment. Small and large corporations had to “tighten their belts” and are producing less goods. Without a well thought out solution, the workers will face even more hardships, making the problem worse. The people lost confidence in the companies and started selling all their stocks. If the United States were a communist society, none of these troubles would have occurred. Everyone would have shared equally, and there would be no shortages of money, and inability to pay off mortgages. Therefore companies wouldn’t have had to produce less goods. And the employment rate would not have gone down, the companies would have been stable, and the economy would have been secure. A fair, equal, Marxist society is a perfect solution to the United States’ current economic crisis.

This is from Chris, not Greta.

How could you people be so stupid about economy works? My work Principles of Political Economy and Taxation told you exactly what to do about the economy. Your economy has fallen into ruin due to the setting of minimum wages; because of this the poor and stupid of the society have been allowed to buy houses. This in turn has made it so they can’t pay the rich back therefore destroying your system as a whole. I recommend you get rid of this stupid minimum wage and get rid of taxes on businesses. These things just rob your economy with the poor running amok with the power you have endowed upon them. Taking away their weapons will disable them and make them incapable of hurting you; while getting rid of taxes will allow you to keep more money. This in turn can be used to help those wretches and strengthen your economy. This will work well because the wealthy will always be smarter then the poor.

This one is actually from me.

Adam Smith - the government bailout

The government should not be involved in Wall Street's business. If left alone, the market will fix itself. Even though this is the largest numerical point drop in the stock markets in our nation's history, this is not the largest percentage drop. Looking at the numbers in relative terms it is easy to see that America has faced worse; and the markets will recover if left alone. There would probably not even be a crisis in our economy if the government hadn't placed restriction on Wall Street or insisted on watching it carefully. Reliability on Wall Street is also not being looked at in relative terms. These are just the good American people living the American dream. If the government didn't stick its nose in where it does not belong these good people and others would be free to prosper from their hard work the way they deserve.

Garseng Wong
Charles Fourier

The current decline of today's economy was not a sudden event, nor was it unexpected. For the past few years our economy has steadily weakened, and now that the decline has picked up and shown major effects in the markets today, it's time to take the action that we should've taken long before this. The $700 billion dollar bailout plan is completely necessary at this time in order to help stabilize the economy and slowly lead it back to its original success. The failure to pass the bailout plan is very poor judgement on the part of the House and they should reconsider immediately. We've seen how the economy turns out with capitalism being the driving force, so now it's time for the government to intervene, and for socialism to take over. The wealthy have become too greedy, too caught up in their own wealth and as a result have helped ruin our economy by preying on the money of economic classes lower than themselves. At their hands, we've seen failure. Now we need to put it in the hands of the government and start seeing success.

I am Karl Marx, and I introduced the world to communism. (Marxism) In 2008, the U.S is in one of its worst economic years in history. The gas prices are rising and more and more people are losing jobs. Americas economic system is based on Capitalism, which had led to all of these issues in the economy. This is why America should follow communism because it will make their economy prosper. In 2008, CEO salaries are at an all time high and this is due to capitalism because it allows there to be to vast differences in wealth. I believe everyone should have the same amount of wealth, all goods should be shared equally, and everything should be controlled by the people. By following communism, America would be better off because everyone would have equal pay and no one would need to worry about paying high price for gas and there would be no economic crisis because all of the homes belong to the people. America should follow communism because it will help their country get out of the 2008 economic crisis.

Arjun

Adam Smith

Looking at our economic situation right now, I can’t help but say NO BAIL OUT! The government, as I’ve asked so many times, should let the people work out economic problems. The government has been pushing companies into power, and putting out guidelines that are harmful and negative to the economy. Laissez Faire capitalism should have been the way to go in the first place, and now, the government wants to give these corporations a way out of their mistakes, this can not be solved just by giving out money (taxpayer’s money). Simply put we should have back-off and “let them do” things would have evened out, now we have a bigger problem, now it’ll take years to get us out of this mess.

Sarah Purgett
Charles Fourier- Bailout

As an avid supporter of socialism, I believe that the public should collectively own and supervise the industries. Because the socialist form of government promotes equality, low-wage workers receive the social value of their labor. In addition, all students, both low-income and high-income, would have equal opportunities to an education because all schools and universities are owned by the people. Socialism is the most effective form of government because it has the best interests of the people in mind. Because modern-day America operates predominantly as a capitalist society, both the people and the economy are suffering. Recently it has become clear that capitalism has been extremely unsuccessful in the US. The government needs to act quickly in order to save the dwindling economy and end the suffering of the people. The smartest move here would be the $700 billion dollar bailout, as a last attempt to save the country and bring back equality. Capitalism has failed miserably, the bailout is the nation's only hope.

Adam Smith
I am up in arms about how the hopes for equality have corrupted the minds of this nations. Competition drives people to preform at their best, and maximizes what they are able to produce. If these people know they will be rescued if they fail, they will be reckless and careless about what they do. The government should not be helping the poor and incompetent because they should not be helping at all, they should remain as far away from the economy as they can. This 700 billion dollar bailout bill, while is could have some benefits, would put a burden on taxpayers and create the safety net that prevents the need for perfection. The government should appeal labor laws, and allow Ricardo's concepts of pricing and wages to ensure Financial superiority.

Nick Campanelli
(Karl Marx)

In America, I discovered the widespread economic problems of Capitalism. If you are an American reading this entry, I am sure you have noticed the Government's "bailout bill," a 700 billion dollar bailout of the United State's stock market. If the USA was a communist state, this would never happen, because in Communism there is no government to interfere with the US markets. Also, the stock market would have never gotten to this critical point, because the proletariat would have overthrown the bourgeoise. And if you didn't know, the bourgeoise are the receivers of this 700 billion dollars of your money. Essentially, they are getting taxpayer money for screwing up. Also, if you as Americans look at the housing market, you will see a market on the verge of collapse. Through so many foreclosures and sub-prime loans, the American housing bubble is about to pop. Of course this could have all been avoided in a Communist sort of government, because big banks and other companies don't own the houses, the houses are owned by people as a whole.

Adam Smith:

The economy is in a crisis at the moment. The stock market is having problems and it would take 700 billion dollars of government spending to accomplish this bailout. But should we do this bailout? I don’t think the bailout is a good idea. In a capitalistic system, the government should not interfere with how the economy works. It is a free market and the government’s regulation just gets in the way and makes it harder for our economy to prosper. I also believe that the economy is in its current situation because there was too much government regulation to begin with, as every system with regulation has too much regulation. So I insist that the bailout plan should not be put into effect, because it is supporting the socialist idea of government regulation, but it is still the governments fault for this economic problem.

David Kozloff
Karl Marx

Well i completely disagree with today's economy. Everything you do goes completely against what i believe in. I strove to make an equal world where there would be no social classes. I may have been an idealist, but i think that if more people would have stuck with my ideas it would have been better. But now we live in a society where the poor get poorer and the rich get richer. Capitalism=Bad. Government=Bad. GRRRRRRRRRRR

Karl Marx

Everything is going as I expected it would. The American economy crash is plainly indicative of the failure of capitalism because of its shortcomings. Soon people shall realize that capitalism is a corrupt system that is and always was doomed to fail. This bailout plan will not work, and soon everyone will settle into a communist society, where everyone will look out for the welfare of others. In some time, after initial suffering, the world will become a good place.

Thomas Malthus

The people of the world are using up all of the earths resources because they've overpopulated ever country. In order to conserve more energy the population of the world must be cut in half, and then cut in half again! Cancel all hunger relief programs and all healthcare. America should go to war with every other high militant country on the planet and they should also set off some of those atomic bombs they've been hiding from the american public. That ought to do the trick.

Thomas Mathus
(Stephanie Aanenson)

I, Thomas Mathus think that the United States should go to war so that we can establish a balance between poverty and wealth. We should continue this war in Iraq. Most of the diseases that we could have cured have been cured so therefor population continues to rise. If we don't have wars, everything will be off balance. Our natural resources are not growing as fast as our population is. Our population is growing faster than ever and we won't be able to keep up without the assistance of the war in Iraq to balance everything out.

Adam Smith

I think, given the current financial crisis, that economics cannot be separated from politics. I believe that when all other interests are considered, that it is best if government intervenes and supports private industry. That is because the consequences of supporting private industry are less than the consequences of severe damage to the economy. It is one of my fundamental beliefs that economics and moral philosophy cannot be separated because economics always has an effect on private individuals. One role of government is to represent the best interest of people. That’s why I believe that economics and politics cannot be separated.

Karl Marx:::

Here is the perfect example of why capitalism will never work. These companies have become too greedy and have ruined the whole market.
Give these houses to the people who need them. The greedy mortgage companies have tricked the lower class into terrible mortgages that are unfair. The proliteriat has worked too long in this capitalism society for so little. Let the people have their day and rule themselves!!

Karl Marx on the Stock Market:

This is a perfect example of why capitalism sucks. If the US was a Marxist country like it should be, the crashing stock market would not be a problem. There shouldn't even be a stock market. Factors of production should be owned by the public and operate for the welfare of all. In fact, all means of production-all land, mines, factories, railroads, and businesses-should be owned by the people, and all goods and services should be shared equally. If the US was Marxist, we also wouldn't have an unemployment problem. In a Marxist society, everyone gets a job, and the community or state must act to protect workers against being taken advantage of. Everyone gets what they need. None of these problems would be occurring if everybody would have just listened to me and became Marxist.

By Maggie Harper

thomas malthus:

he wanted the war, to balance out the need for natural recourses because the population of the Country is growing.

Charles Fourier

I am a strong advocate and supporter of socialism. The factors of production are owned by the public and operated for the welfare of all people. I believe that the government should plan the economy, and not rely on a free-market. Socialism will help promote equality to all people. The United States is in some trouble because of capitalism controlling the economy. The government should become socialism and take control and help move the. The economy needs the equality and insight of the United States Government to prosper and succeed.

Karl Marx

(Keith Wood)

Capitalism is not in the best interests of this country. Greed and personal benefits are outweighing what should be done to accomplish an equal and fair type of government. Even socialism puts too much power into the hands of individuals higher up on the corporate/social ladder. The reason that our upper class is steadily getting richer while our lower class is steadily getting poorer stems straight from greed. The people on the top want to stay on the top, and they will not part with their big budgets so as to extend a hand to the man below them. Revert to Communism. Let the goods and services be distributed and shared equally.

Karl Marx

Our countries capitalism is not working. There is no balance between wealth and the rich are to rich as well as poor being to poor. People who are born poor to not have the opportunity to work hard and become richer. Now, had the US followed a communist government, we would not be in this situation. For one, companies are given far too much power and the are making some decisions that may not be right for the economy. Also, had a communist government been in place, there would be no mortgage crisis because there would be no mortgages. If the government did not interfere, the U.S would be more stable and the people would have more freedom. There would be no economic crisis if this country were communist.

Adam Smith - Gas Prices
Nick Dugas

The rising gas prices have been one of the most prevalent issues of modern times, and it is an issue that will only become increasingly important in future times to come. In order to solve the issue of rising as and oil prices, there are a few things I have come up with that can be done. What congress and the president need to do, is lift all of the executive and legal bans regarding offshore and domestic drilling. It is appalling that the government is placing bans on domestic drilling, and forcing people to pay for oil and gas at the prices of the Arabic oil cartel. We need to let the companies drill for oil here, and the competition in the free market of multiple companies will allow for increased production, faster drilling, and lower prices for everybody. Not only that, but drilling for domestic oil will also create new jobs to help stimulate the capitalist economy.

I studied moral philosophy at the University of Glasgow. I also wrote the wealth of nations. Ricardo and malthus support my ideas that natural laws governed economic life. The 700 billion proposal should not be considered and shall not pass. In a capitalistic system the government should not interefere with how the economy works. Government regulation just gets in the way and makes it harder for our economy to progress. Because the socialists support this 700 billion idea, government regulation is not necessary.

Adam Smith (Tom Holton)

Bailout:

I believe that bailing out banks, corporations is the greatest mistake in the history of the United States. This is so because the reason for the trouble is government regulation in the first place! By regulating that Banks give loans to everyone, even those who cant pay it back, it obviously collapsed. The solution is not to throw more tax payer money, and borrowed money from China in hopes that more government regulation will magically work this time. And what happened after we bailed out Freddie Mae and Freddie Mac? Bob Barr had it right! Everyone else got in line for a bailout. When will it stop? The only solution is to let the free market work, and not be held back by government regulation! The reason that the private sector works better than the government is because the private sector is motivated by money, hence the businesses will work to do well.

(Note: The reason for late posting is because I was absent on the date it was assigned.)