A Quote by Nouriel Roubini
I believe, unlike people that are totally free-market, laissez-faire fundamentalists, that there is an important role that the government can play - one, in providing public goods, whether it's education, health care, or other things, and two, supervising countercyclical policy - stimulus, whether it's monetary, fiscal, or otherwise.
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I’m pleased to see the progress made on the Windsor Regional Hospital project. This is an important project for our community in terms of the stimulus it is providing to the local economy and the vital role the new facility will play in providing state-of-the-art health care and treatment to Windsor residents.
These are the same people who believe, in some cases, the federal government should not play any role in providing health care to our people or protecting the environment.
Beyond monetary policy, fiscal policy has traditionally played an important role in dealing with severe economic downturns.
And the issues I think are important in Louisiana right now happen to be health care and education. And those are two areas that the federal government can play a very important role. And I think I can be effective in trying to help our state from the Washington scene.
There was nothing natural about laissez-faire; free markets could never have come into being merely by allowing things to take their course. Just as cotton manufactures were created by the help of protective tariffs, export bounties, and indirect wage subsidies, laissez-faire was enforced by the state.
I'm not trying to be diplomatic. I'm trying to be more nuanced and realistic. I think there has to be a serious examination of the shortcomings of the Euro structure. Euro central institutions, whether it be fiscal policy, monetary policy, financial regulation, are simply not as robust as they are in a currency that has a national government behind it.
Government or politics in America today is big business. Everybody makes money involving themselves in one way or the other, whether it's pollsters, whether they are policy wonks, whether they are pundits, whether they are those who believe that they must call it as they see it and then to be fair about it.
I can support co-ops if they want to do it as we've known co-ops in America for 150 years - where they serve the purposes of the consuming public, whether it's health care or whether it's co-ops as we know them in the Midwest, providing electricity or to sell supplies to farmer.
Things like Kitchen Cabinet, I'm not sure they necessarily tell the Australian people whether you have judgement, whether you have discernment, whether you have intellectual acuity, whether you are able to develop policy, whether you are able to represent individual cases to the highest levels of government successfully and in a manner that actually achieves outcomes.
I clearly believe a lot more than some of my coalition colleagues - Tories - in redistribution and using the tax system for that purpose. I also believe in the government having an active role in the economy, which is having an industrial strategy. I'm not a believer in laissez-faire.
As we get closer to the end of this Congress, we should be addressing the urgent needs of the American people - the war in Iraq, affordable health care, a sensible energy policy, quality education for our children, retirement security, and a sound and fair fiscal policy.
The United States remains the only major country on earth that doesn't guarantee health care to all of our people. And yet we are spending almost twice as much per capita. We have a massively dysfunctional health care system. And I do believe in a Medicare for all single-payer system, whether a small state like Vermont can lead the nation, which I certainly hope we will, or whether it's California or some other state.
I don't play golf. I don't play basketball. I don't really like cards. I don't think anybody questions whether or not I have a role to play here. And so I think it is irrelevant whether the president wants to do that in some of his free time. What's really important is, when we have something to say, does he listen to us?
Market fundamentalists recognize that the role of the state in the economy is always disruptive, inefficient, and generally has negative connotations. This leads them to believe that the market mechanism can take care of all the problems.
As financial markets continue to broaden and deepen, the behavior of asset prices will play an important role in the formulation of monetary policy going forward, perhaps a more important role than in the past.
When people become frightened, they look for things of real value. They will go to monetary metals, gold and silver, and they will buy other things, such as buying property. But no matter what we have, whether we have our gold coins or we have our property, if we have an authoritarian government, that is our greatest threat. So, I would like to think that there is no perfect protection, other than shrinking the size and scope and power of government, so that we can be left alone and take care of ourselves.
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