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What you need to know for 07/23/2017

Laissez-faire government policy controls the market and abuse

Laissez-faire government policy controls the market and abuse

*Laissez-faire government policy controls the market and abuse *Guns aren’t always the weapons of ch

Laissez-faire government policy controls the market and abuse

Economics 101: all goods and services are scarce. There has never been enough food and supplies to satisfy everyone’s needs.

Until recently, mankind could barely hunt and gather enough to survive, and lived feast to famine. Since the Industrial Revolution, we have produced more goods and services than since the dawn of man, but not enough to meet demand. Economic systems help producers get scarce products to consumers.

There are two economic systems. Command economies have been around since the time of the pharaohs. Recently it has been tried by communist countries. The problem with central planning is it responds to market conditions too slowly. It wastes too much production manufacturing things consumers don’t want or need and is inefficient getting wanted goods and services to market. We can see the evolution of former communist countries into market economies.

Market economies are the best system developed to date. Free enterprise quickly adapts to market conditions and efficiently brings supplies to meet demand. Entrepreneurs can see an opportunity, produce goods and services, and meet demand efficiently. There are many problems with markets, but they are the best we have.

A market controls the production and distribution of scarce goods and services using supply and demand. When demand goes up, the prices of goods and services rise, prompting production. When the market overproduces, the price drops and production stops, and in the best case a price of a scarce good is established.

Markets are prone to fraud and manipulation. If you can manipulate prices or production legally, or illegally, you can become very rich.

Laissez-faire is the government policy of hands off and allows the market to control itself against abuse. Since Teddy Roosevelt, we have instituted laws to control the markets and protect consumers and investors. It is a fine line between overregulation and allowing abuse.

The great recession has showed us what laissez-faire government policy looks like. Business has evolved from manipulating markets to manipulating government. Great amounts of wealth have vanished, but don’t accuse anyone of stealing it — we have given it away willingly, almost begging them to take it.

Don’t be too quick to thank representatives we have elected who want to dismantle Social Security, unions, bank regulations and the middle class. I can’t understand how it will help anyone, rich or poor, to become a Third World country and race to the bottom.

Vincent Pelliccia

Saratoga Springs

Guns aren’t always the weapons of choice

In the days since the horrific school shooting, the common cry seen on most media outlets is “gun control!” This is understandable after such a traumatic and senseless act. But I can’t help thinking, is it the answer? Had the weapon used, as in the China school slaying that same day, been a knife, would we call for stronger knife control?

What we need is better mental health control. The attacker was clearly mentally ill. Calling for tougher gun control is Band-Aiding the problem. The current fiscal crisis most states are facing is leaving mental health facilities and outreach programs with little or no budgeting.

In the aftermath of the Connecticut school shootings, many politicians will jump on the bandwagon for stronger gun control. Why not? It makes them look good. It’s a photo-op. But why not take a look at the real issues, and not just what makes us look good to voters.

Until we address the mental health issues in our country as a priority, these types of situations will continue to occur. Get to the root of the problem.

Rebecca Christie

Schenectady

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