ray jay
I know you see this as the free market and the Republican's fault, but the reality is that we've had 50 years of greater government involvement in our economy since Johnson launched the great society
.
In what form?
You want to get rid of medicare?
There are 79 means tested social programs totalling $2,286 billions (2011) . And that's a lot. But what would the effect be of removing them? Would all these poor people suddenly reveal themselves to be able to work, qualified for a job, and have a job waiting for them?
Each of the programs initiated met a need. Has that need disappeared?
The other thing that isn't true is that you've had
50 years of greater government involvement> . The period of increasing involvement was 1935 to 1981. That was also the period when the middle class was broadest and most prosperous. Its since 81, and pressure on government to shrink, and policies that favored corporations and the wealthy, that the middle class has shrunk both in size and relative prosperity.
So what is the effect of all those government programs?
According to the Congressional Budget Office, social programs significantly raise the standard of living for low-income Americans, particularly the elderly. The poorest 20% of American households earn a before-tax average of only $7,600 - less than half of the federal poverty line. Social programs increase those households' before-tax income to $30,500. Social Security and Medicare are responsible for two-thirds of that increase.[25]
Political Scientist Benjamin Radcliff has argued that more generous social programs produce a higher quality of life for all citizens, rich and poor alike, in that such programs not only improve life for those directly receiving benefits (or living in fear of someday needing them, e.g. considering the prospect of unemployment or illness) but more importantly still because income maintenace programs reduce the social pathologies (such as crime and anomie) that are result of poverty and insecurity. By creating a society with less poverty and less insecurity, he argues, we move closer to creating a nation of shared prosperity that works to the advantage of all. Thus, his research suggests, life satisfaction (or "happiness") is strongly related to the generosity of the social safety net (what economists often call decommodification), whether looking across the industrial democracies or across the American States.[
Compare that to the life style of the poor and working poor previously. Compare the size and relative wealth of the middle class before the involvement.
The alternative sucks for most people.
rayjay
We have a tremendous amount of regulation. More than ever!
You do and you don't. Its amazing how much "regulation" isn't enforced or enforceable. How much is companies signing a waiver and saying they meet the standard.
How much is truly third party regulation... and effective...
Regulation also often means that companies are being forced to take preventative measures on employee safety, product safety, product quality or environmental standards. The free market isn't very good at seeing companies magically achieve all of these standards.
But they save lives, and usually save companies money in the long run. The Deepwater Horizon was the best example of regulatory standards that weren't enforced because the industry had undercut them and the government had been defunded to the point where outside enforcement capability was reduced. 13 people died, an enormous environmental disaster dislocated thousands of people and businesses... and BP lost money.
It always comes down to "we have too much regulation", but the case is never made which regulations we can do without...
The reason regulations were brought in, was that something happened to cause people to want regulation. Businesses couldn't be trusted to protect workers, or consumers ... What's changed? When we were told that there was a need to deregulate the financial industry ..... the economy nigh collapsed... because the mavens couldn't be trusted .
https://en.wikipedia.org/wiki/Social_pr ... ted_States