Kmart is a great example of Bidenomics. Not only did we have people like Mnunchin extracting wealth out of the company, but its demise came during the Trump administration.
An economy is a complex set of interconnected institutions specific to a given place, time, and set of circumstances that operates with the goal of solving the scarcity problem. Trying to understand such a thing is like the blind wise men who tried to describe an elephant having each touched a different part of the beast. Worse yet, the beast is a shape-shifting creature, and is different to every observer. The word itself is inadequate, since the original Greek applied simply to the management of a household's budget. And for most people, that is the precise starting point. Tragedies of terrible proportion have resulted from the hubris of so-called leaders who thought they understood and could control the thing, and more tragedies are likely to occur. Still, I maintain, this will always hold true: self-interest RIGHTLY UNDERSTOOD, a sense of FELLOWFEELING, free markets, a sound system of money, property rights secured by a trustworthy legal system, and limited government can go far toward solving the scarcity problem. Sadly, we have none of those things, and our economy is a wounded animal, thrashing around in it's death agony.
Bidenomics is picking off American Businesses like Kmart one by one. https://tinyurl.com/yr3bzb6j
Kmart is a great example of Bidenomics. Not only did we have people like Mnunchin extracting wealth out of the company, but its demise came during the Trump administration.
An economy is a complex set of interconnected institutions specific to a given place, time, and set of circumstances that operates with the goal of solving the scarcity problem. Trying to understand such a thing is like the blind wise men who tried to describe an elephant having each touched a different part of the beast. Worse yet, the beast is a shape-shifting creature, and is different to every observer. The word itself is inadequate, since the original Greek applied simply to the management of a household's budget. And for most people, that is the precise starting point. Tragedies of terrible proportion have resulted from the hubris of so-called leaders who thought they understood and could control the thing, and more tragedies are likely to occur. Still, I maintain, this will always hold true: self-interest RIGHTLY UNDERSTOOD, a sense of FELLOWFEELING, free markets, a sound system of money, property rights secured by a trustworthy legal system, and limited government can go far toward solving the scarcity problem. Sadly, we have none of those things, and our economy is a wounded animal, thrashing around in it's death agony.