Careful Joe. Marxists thought that an ever-narrowing capitalist elite was the fundamental contradiction lying at the heart of the system. But somehow WWII - followed by the GI Bill - resulted in the flattest and widest social order ever seen.
We should not be surprised when the insatiable branch of the aristocracy, try repeatedly to pound the diamond back into a pyramid of inherited privilege. This is the classic human pattern, after all. What's marvelous is that much of our aristocracy "get it". They are loyal to a diamond shaped social order in which inheritance is a lesser determiner of destiny than talent and hard work. Joe Carroll's insight, that the insatiables want social security to go into stocks in order to create a vast pool of "bigger fools" to buy dog stocks, is an interesting one. If they do pass it, we should set up a contrarian fund to follow the insatiables and bet AGAINST whatever stocks are chosen by Bush's SS team. --- Joe Miller <[EMAIL PROTECTED]> wrote: > > >There is a very interesting argument in a little > book called Nexus about > >the effects of stock markets on the transition from > diamond to hourglass > >economy. It is a "tipping point" argument. The idea > is that if everyone > >invests in the stock market, say all of their > social security, the shape > >of the economy (diamond, or hourglass) doesn't > change as long as stock > >prices rise on average (the old "high tide lifts > all boats" argument from > >Reaganomics). However, one reversal (and reversals > are inevitable) causes > >wipe-out of small investors, but the really wealthy > have no trouble > >weathering the storm. The result is further > migration of the middle class, > >either to the top or bottom of the hourglass. The > only way to prevent this > >would be to artifically buffer or prevent large > losses on the part of the > >small investors (once again, nearly everyone with > soc. sec., in the Bush > >plan). But Bush would never do that, and besides > that kind of government > >control of the economy has a name most Americans > would object to > >(depedning on the details, either the Big C, S or > N! > > Best, > Joe > > > Dr. Joe Miller > Dept. of Cell and Neurobiology > Keck School of Medicine of the University of > Southern California > 1333 San Pablo St. BMT401 > Los Angeles, CA 90089-9112 > [EMAIL PROTECTED] > 323-442-1629 (o) > 323-442-3466 (fax) > > _______________________________________________ http://www.mccmedia.com/mailman/listinfo/brin-l
