Op Ed.

The questions are, “Should we go to a Utilitarian-approach to World Economy?” or “Should we continue on the Libertarian-approach to World Economy?” These are the ends of the Economic Spectrum.

If we go to the Utilitarian-approach, it would mean that we would have to agree to Convention of Behaviors and Practices that would support the growth of the Economy without causing undue harm to the components of the same Economic System. How would we come to such an Agreement? How would we enforce such an Agreement beyond individual, state and national boundaries? How would we bring negative consequences to those who violate such rules?

If we continue with the Libertarian-approach to World Economy, would we experience the same major economic down-turns the we have experienced over the last year and a half, or worse, another Great Depression?

We have seen how the unfettered Financial System brought about mass-confusion to near destruction and total collapse of the Credit System and various Economic Systems. Will Regulations prevent such a catastrophe from occurring? How much Regulations should be in place? How do we learn from our past mistakes in order to avoid making the same mistakes in the future? Or, do we repeat our mistakes over and over again?

I forgot to put this in the original post. Sorry!

http://www.weforum.org/en/even...eeting2010/index.htm

WXGuy,

I’m sincerely interested in discussing this with you, but first you will have to define “Utilitarian-approach” and “Libertarian-approach” as I disagree with you that we are using the “Libertarian-approach”, nor do I agree with “These are the ends of the Economic Spectrum”.

As for your link: “World Economic Forum Annual Meeting 2010 “
Psychobabble, pure psychobabble!

Pawn

World response to the Severe Economic Recession. If the US REFUSES to establish reasonable rules for the Banking Industry, then the world leaders will step in to establish some kind of order.

quote:

As for your link: “World Economic Forum Annual Meeting 2010 “
Psychobabble, pure psychobabble