chapter  4
19 Pages

What's Wrong with Economists?

This chapter discusses a number of major initiatives which can make beneficial use of the unique role government must play in a modern economy. Not only does government have the capacity to combine both internal and external incentives in strengthening our interdependent economy, but governments vantage as a major economic actor not driven by self interests permits government to take actions on behalf of the economy as a whole. Buffer stocks allow governments to pre-empt volatile swings in commodity prices, such as those experienced with oil, grains. In an entrepreneurial economy, the independent decisions of millions of independent enterprises will sometimes move the economy towards recession. Tax reform is needed to re-establish the civilized relationship between taxpayers and their nation. A society thrives when its members can sustain the integrity and strength of the values of its civilization across history. This practice of civic excellence requires that we adapt our social institutions to changing economic and political conditions.