raghu: >> I wouldn't be too quick to denounce central banks run by technocrats. Do you >> really want the Fed to be controlled by the present Congress infested with >> Tea Party crazies?<<
Marv: > Unfortunately, democratic institutions in capitalist societies don't come > with guarantees that befuddled voters won't elect crazies with the power to > legislate on a whole range of issues. > In relation to the Fed, the congressional initiatives haven't been too bad. > There have been a number of bills jointly sponsored by conservative > Republicans like Ron and Rand Paul and supported by progressive Democrats > like Allan Grayson and Bernie Saunders (a de facto Democrat) which have not > sought to abolish the Fed but to make its operations more transparent and > accountable to Congress. What's objectionable about that?< I agree with Marv. Further, even if voters are "befuddled," it's their right to make errors rather than have some folks appointed by the very rich make mistakes in their name. Popular democratic sovereignty trumps dictatorship as a matter of principle. -- Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own way and let people talk.) -- Karl, paraphrasing Dante. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
