ECONOMIC HISTORY- NO TRIALS ON GUINEA PIGS FIRST
 


Probably as a tot your dad showed you the magic of growing from seeds.
Method:                     Seeds were put on a cloth, then dampened and put in a warm place.
Results:                    Some seeds grew into sweet pea plants, some did nothing and some when examined were                                    dead and others when closely looked at were little stones.
                                    24 seeds 12 grew 6 did not 6 were stones.
Conclusions:           Maybe not all seeds are strong enough to "hatch".
                                    Need to separate stones if growing plants to give to friends.
This is your first "experiment".

Hopefully at school you did more experiments in physics and chemistry.
Aim:                           To find out some properties of white light.
Method:                     Light source such as a torch or bedside lamp.
                                   Various glass objects including a thick piece of glass.
                                   Light shined at different angles through each different pieces of glass.
Results:                    Rainbows appear at various angles on pieces of paper and light also seems to bend.
Conclusion:             "White" light is made up of different colours and does not always travel only in straight lines.

In economics, theorists write about aims and then skip vital steps such as method of experiment and results.

Consequently these bad-economists make experiments on whole nations such as New Zealand, Estonia or even England. They write some theory and then sell the aims to desperate and ignorant MPs who appear on television to say 'we have CONCLUDED' that this new policy in schools, or clinics or in rubbish collection will provide the best outcome for "everyone".
The madness of socialism should be self evident. Yet because so few communist leaders were put on trial, the system has never been condemned unequivocally in a court of justice for history... In which case unlike the example of the German state which openly purged itself of its Nazi past, we are still burdened with english "intellectuals" and parties which openly espouse "socialist ideals".
Worse still for us, many so called "freedom loving, free market" idealists acknowledge the force of Popper's arguments for truth by continuous experiment and testing of hypothesis. Yet they fail to apply Popper's stringent criteria when promoting their own pet economic theories.

Recent History

Rogernomics      A privatization and trade liberalization process in New Zealand.
1984                      Socialist interventions were deemed rightly enough to be destroying NZ competitiveness. The                                result is an international grab for under-priced assets.
                               Tax concessions continued for property interests and many hard pressed high taxed wage                                earners joined the property-less underclass. Child abuse and crime in some locations as high                                as in sink areas of Mexico and the US.

Thatcherism        'describes the ideology, policies and political style of the British Conservative politician Margaret                                Thatcher, who was leader of her party from 1975 to 1990.
                               Claims to promote low inflation, the small state and free markets through tight control of the                                money supply, privatization and constraints on the labour movement'.[1]

Reaganomics      'refers to the economic policies promoted by the U.S. President Ronald Reagan during the                                1980s. The four pillars of Reagan's economic policy were to:
                                Reduce government spending,
                                Reduce income and capital gains marginal tax rates,
                                Reduce government regulation of the economy,
                                Control the money supply to reduce inflation'. [2]

Characteristics of market liberalization need to be chiselled on stone tablets, dictated by the few "Mosaic stature, economists" not working for big oil or commodity firms.

State must take percentage of rents from natural resources in lieu of high taxes on wages.
Concessions to exploit resources must be leasehold and 5 yearly renegotiable, not freeholded..
Tax concessions on real estate "investment" must be ditched.


Lessons from New Zealand's unhappy experience earlier experience are ignored by today's market fundamentalists. They ignore the reality on the ground and in New Zealand prisons. They still quote approvingly from Donald Brash's book of policy, not outcomes "New Zealand's Wonderful Free Market Reforms".

The 2010 BUSTS of Britain, Ireland, Spain and the US are the subject of over 20 books already, see Bubble Wise - After the Bust (many) - Before (just a few).