Saturday, April 3, 2010

On economic and political governance

Re all the economic governance "fashion" of recent months and weeks:

All policy issues have an economic dimension but no policy even econ has only an econ dimension 25 minutes ago via we

IMO economic policy decisions cannot be left to the "market" or supply and demand, they should not replace elected political governance.

For a market to be truly free it must also be "democratic" and rule of law does not mean rule of market rules or #economic theories.

Even common markets and free trade areas need political governance, IMO. Hence EEC Common Market naturally led towards EU Political Union.

IMO, we see the same thing happening with world free trade, ie for political governance to balance multilateral economic activity.

IMO all policy decisions must be approved by the people or their elected reps and economic, monetary and fiscal policies are no exception.

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