Thursday, February 26, 2009
Keynesian Economics = Bad
I know this will probably come off as sounding extraordinarily piggish, but I wish all this economic crisis was just done and over with. Don't get me wrong, I'm sure it's been fueling the conversations and news networks, but it's just gotten to the point that the more I hear about it, the more angry I get.
I don't know what's worse: Being the generation that not only has to take care of environmental issues and also a hefty national debt, OR The fact that all my future aspirations of getting a higher education and decent job are becoming more impossible to reach.
It's ridiculous. Not only is the job market going sour, but colleges are upping the prices, more kids are applying for scholarships and government help, and there just isn't enough money to go around.
I don't claim to be an economist, but let me assure you I am not a Keynesian. I do not believe that injecting money into the economy will do us a least bit of good due to the fact that the businesses we are giving hand outs to aren't doing one thing to change their ways. Not to mention, where are we going to get this money? The taxpayers don't have much because they don't have jobs, and other countries are doing just as bad because the economy spreads throughout the world, which means they've fallen just like us. My parents were closely connected to Circuit City, and when the two or three businesses shut down in our area my parents had to cut their losses and look for new accounts. Did my parents, who happen to be small business owners themselves, have the opportunity to get bailed out? No.
The blue collar workers, or as I like to refer to them as the Back Bone of America, need this bailout money just as much as the major corporations. Not only do small businesses provide for 60-80 percent of jobs annually, they also are more responsible and stable.
By keeping these irresponsible major corporations that don't know how to handle money, we're just keeping the bad kids in, and safe from harm, while the good kids fall because of other's mistakes.
It's not right. It took me a while to come to this conclusion, but I would rather have 5-10 years of a depression so the smaller businesses can build up and hold the economy together, than to fund greedy CEOs and their employees.
It's rough, it's hard, but we do not need to applaud Keynesian economics. We must look to adhering to free market economics, and just let things run their course. Maybe then, we can all come out of this situation with a few bruises, instead of a gaping hole in our limbs.
(p.s. due to my tourney schedule the likelihood of me reading blogs, and updating are very slim)