In America these problems are systemic because government has gotten in bed with powerful banks to create a monopoly via the Federal Reserve. We have given all economic power over the issuance of credit to very few with zero oversight. We have centralized (economic) power. "The fundamentals of Keynesian economics are sound" Just keep saying it to yourself, Mr. Hutton.
In Britain they have their own central bank monopolizing their credit issuance, as well, through their confiscatory Bank of England.
We yammer on endlessly about the evils of capitalistic greed and never once consider that governments(i.e., the people with the guns) are the ones controlling this entire system.
Mr. Hutton seems to be suggesting what Mr. Frank Shostak sarcastically suggests:
"If central bankers and government bureaucrats can fix things in difficult times, why not in good times too? Why not have a fully controlled economy and all the problems will be fixed forever?" http://mises.org/story/3131
In Britain they have their own central bank monopolizing their credit issuance, as well, through their confiscatory Bank of England.
We yammer on endlessly about the evils of capitalistic greed and never once consider that governments(i.e., the people with the guns) are the ones controlling this entire system.
Mr. Hutton seems to be suggesting what Mr. Frank Shostak sarcastically suggests: "If central bankers and government bureaucrats can fix things in difficult times, why not in good times too? Why not have a fully controlled economy and all the problems will be fixed forever?" http://mises.org/story/3131