Well, the idea of the $700b worth of loans (which is not the same as $700b of giveaway, much of it will be recouped) is to prevent a depression, which would cost far more than the loans. We're in a situation where either way, the taxpayers lose. If those $700b of loans prevent us from losing $7 trillion, then it's worth it. They're not giving out the loans just because the companies asking for them are large. They're doing it to jumpstart the lending the entire economy depends on.
Is that a good idea? I really can't say for sure. The theory sounds good, but for all I know its misguided.
It's not worthwhile for me to try to determine that for myself. I don't have years to devote to the study of economics, which would be necessary for me to have an informed opinion on whether or not the loans will prevent far more than they cost. We can't all be economists, and anyone who isn't can't have an informed opinion. And even if I did have that kind of time, by the time I got that far it would be too late. And even then, the most informed opinions are still far from infallible. They're significantly more likely to be correct than the one I have now for sure, and they're the best we can do, but I'm not sure how much my one extra vote would matter.
That's the thing with government and capitalism, it's all about division of labor. I can't be informed about everything. I just try to vote for people who will get advice from people who are, which is why I base my votes more on a candidate's intelligence and epistemology than their stances and specialized issues such as economics..
Is that a good idea? I really can't say for sure. The theory sounds good, but for all I know its misguided.
It's not worthwhile for me to try to determine that for myself. I don't have years to devote to the study of economics, which would be necessary for me to have an informed opinion on whether or not the loans will prevent far more than they cost. We can't all be economists, and anyone who isn't can't have an informed opinion. And even if I did have that kind of time, by the time I got that far it would be too late. And even then, the most informed opinions are still far from infallible. They're significantly more likely to be correct than the one I have now for sure, and they're the best we can do, but I'm not sure how much my one extra vote would matter.
That's the thing with government and capitalism, it's all about division of labor. I can't be informed about everything. I just try to vote for people who will get advice from people who are, which is why I base my votes more on a candidate's intelligence and epistemology than their stances and specialized issues such as economics..