Re: Great commentary on today's headlines
- From: abelard <abelard3@xxxxxxxxxxx>
- Date: Wed, 26 Mar 2008 13:14:23 +0100
On Wed, 26 Mar 2008 04:11:09 -0700 (PDT), Mel Rowing
<mel.rowing@xxxxxxxxxxxxxx> wrote:
Remarkable, isn't it, just how quickly champions of laissez-faire
solutions can become advocates for state intervention. All it takes is
for their gravy-train to break down.
i'm not exactly following your intention...
there is no perfected laissez-faire in modern markets....
the money system is cartelised.....
this is heavily to stop laissez-faire.....
in a situation of stress, the 'ideal' is now to let the big boys hurt
...but to protect the little guys....
that cannot be done seamlessly....
please clarify your thesis...
regards....
When freedom to play with barely any restrictions was making them rich
beyond imagination, big-shot financiers applauded "light-touch"
regulation. The looser the rules, the louder they cheered.
Now, however, as credit is crunched, losses mount and prospects for
lucrative employment come under threat, many titans of unfettered
enterprise are suddenly crying out for nanny.
Not for them the tough love of supply and demand. No, sir. These are
desperate times, requiring generous measures of tender, loving care.
The essential plumbing of commerce, it is alleged, has become
dysfunctional. Or, as Josef Ackerman, chief executive of Deutsche
Bank, said: "I no longer believe in the market's self-healing power."
Why ever not? Nowhere on the tin does it say that markets will correct
themselves without someone being hurt. Indeed, for markets to function
properly, pain, somewhere along the chain, is inevitable.
Markets work because they create winners and losers, not jobs-for-life
security. Financial Darwinism doesn't just underpin the survival of
the fittest, it ensures the extinction of pea-brained dinosaurs.
Corporations with too much fat and insufficient speed end up in
evolution's Room 101. This is often forgotten when the trees are full
of fruit.
[ ... ]
Those who got us into this mess are demanding that we get them out of
it. They put a gun to our heads, insisting that, without immediate
action, everyone will feel their pain (funny, I don't recall feeling
the joy of their jackpot bonuses). Catharsis for a few will lead to
nemesis for many
--
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energy, education, politics, etc 1,552,396 document calls in year past
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