Wednesday, January 18, 2012

YIKES! Google is using a Supply-Side economics (Point #2) argument to get people to sign their petition. You Keynesians out there DON'T fall for it, it is a trap!!

Below is point #2 from GOOGLE's message to the world.  It quite nicely summarizes a "supply-side" argument for a source of economic growth.  Google is suggesting Federal Regulations create uncertainty, hurt competitives, costs jobs, stiffles R&D, and discourages investment/entrepreneurship...ALL the things we have heard lately that are NOT problems in our economy.  Why is this all of a sudden unique to the internet and not many other industries?

In tough economic times in the 70's, Pres Nixon is famous for saying "We are all Keynesians now".  Is Google suggesting "We are all Supply-siders now."?

GOOGLE: 2. SOPA and PIPA would be job-killers because they would create a new era of uncertainty for American business.''
Law-abiding U.S. internet companies would have to monitor everything users link to or upload or face the risk of time-consuming litigation. That’s why AOL, EBay, Facebook, Google, LinkedIn, Mozilla, Twitter, Yahoo and Zynga wrote a letter to Congress saying these bills “pose a serious risk to our industry’s continued track record of innovation and job-creation.” It’s also why 55 of America’s most successful venture capitalists expressed concern that PIPA “would stifle investment in Internet services, throttle innovation, and hurt American competitiveness”. More than 204 entrepreneurs told Congress that PIPA and SOPA would “hurt economic growth and chill innovation”.
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