Readers write, July 8

ECONOMY

Supply, demand beats easy monetary policy

Ramesh Ponnuru’s column “Don’t rely on inflation to boost sluggish economy” (Opinion, June 29) makes one think that Economics 101’s basic rule of supply and demand is being neglected.

This column, like many similar articles, seems to conclude that easy monetary policy (i.e., low interest rates and money creation) is the be-all, end-all to economic prosperity. If my memory and knowledge of history serve me correctly, monetary policy has done plenty of bad, while supply and demand is the primary driver of economic prosperity — or lack thereof. Personal wealth is also important.

Consider the Roaring ‘20s — autos, etc., and growing personal wealth; the Depression — plenty of supply and greatly reduced wealth; World War II — young men at war and women working in factories; World War II’s aftermath — young men returning and families resulting, with all their needs to be fulfilled; and the late ‘90s — zero percent unemployment rate due to the Internet boom. The recent recession resulted mainly from continued, very low interest rates by the Fed following the minor 2001 recession.

ALLEN BUCKLEY, SMYRNA

Obama clueless about creating jobs, wealth

The reason this country is spiraling toward mediocrity can be placed on President Obama and all the like-minded people he appointed. Few have experience in the private sector; nor do any of them, including President Obama, know how to create a healthy and growing economy.

It’s obvious that not one individual in this government understands how and what needs to be done to create jobs and the wealth that would enable us to restore our crippled private sector.

Unfortunately, we have an education system that has dumbed down our young people and taught them government is the solution. In addition, the mainstream press is dominated by people who fall into that same category. They, too have no idea how jobs or wealth are created in our free-market system.

TOM GAMBESKI, JASPER

NEIGHBORLINESS

Thanks to road angel who stopped to help

I was recently on my way to a local hospital, taking my disabled wife for surgery, when my right rear tire blew out. I was in the HOV lane driving nearly 70 mph, and was amazed that everyone slowed down to let me maneuver across the highway to the shoulder.

I was a little wary of the area until a polite young man stopped. He asked if help was coming, and if I minded if he started to put a spare tire on my car. Roadside Assistance arrived. My “accident angel” wouldn’t leave until we were safely on our way.

Before we went our separate ways, I asked if he would give me his name. He hesitated, then handed me his card — which I halfway expected to feature wings and a halo. I wasn’t far off; his card indicated he is an instructor and developer for Delta.

All of the commercials and money spent on advertising can never measure up to a single act of kindness. I hope that someday, I can repay the debt I owe to that young man.