Davos Annual Meeting 2010 - CNBC The Next Global Crisis

[torankrai]

love the maria programs like this

[torankrai]

... i very much like these maria bartiromos discussions..

[whoo689]

Neoliberals who encourage free trade or force it onto undeveloped and developing nations that have not yet had a chance to develop THEIR OWN domestic industries are, as Ha-Joon Chang calls them, bad samaritans. They want to kick away the ladder that THEY used to grow their economies. It's hypocritical! Free trade WAS NOT always the norm, nor did any developed nation get rich using it. Wealthy nations first became rich and THEN decided to use free trade when it made sense.

[whoo689]

No nation that has developed into a First World nation primarily used free trade and opened its borders completely to foreign investors and goods. It just doesn't work! You can't make your economy a free-for-all for foreigners to plunder it at the expense of domestic industry. You need to develop an independent, strong, self-sustaining economy before you think about getting into free trade. The Asian Tigers became wealthy in just a few decades through this approach. Not total free trade.

[whoo689]

Unless the terms are crafted in a very specific way, they will almost SURELY screw over the undeveloped or developing nation and benefit the developed one. Or at least one of the partners will get screwed in the end. We need to wait until developing nations develop their OWN domestic industries before we force free trade on them. Otherwise, they will fail. The neoliberal consensus is a whitewash of history and development. The U.S. used protectionism to rise to First World status! come on

[whoo689]

Is it just me, or does this conference look like little more than a grouping of neoclassical lackeys and Wall St. financiers whining and complaining? Where are the New Economists and those who represent heterodox or anti-neoclassical schools?  Smart guys like Richard C. Koo. Where are the people-centered economists and experts?

Free trade does work... to an extent. But free trade is FAR from fair when it's between a developed nation and an underdeveloped one.

[whoo689]

The market DOES NOT always know best, and capitalists have to accept that. Sometimes government has to step in to correct market failure. Why should the market always know best, anyhow? HOW does that make any sense? Just because it's not centrally planned, it's not infallible. Yes, it's a lot more efficient than communism or a command economy, but it's not perfect, either. No system is perfect.

[whoo689]

Japan is a fairly heavily regulated economy, yet it is one of the top 5 largest economies in the world! Same goes for Germany. This anti-regulation fervor among many on Wall St. and the GOP in this country has gotta stop. There IS a time and place for useful regulation. We can argue over which regulations work best, but no regulation is NOT better than regulation that works. Clearly, we need to set rules on the financial industry to prevent all this excessive speculation and gambling.

[HDVids4free]

We are STILL in crisis. Hahahaha

[TedDGPoulos]

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[AlphaSigma]

This is a perfect forum 4 Peter Schiff