On Sep 2, 2005, at 2:09 PM, Gautam Mukunda wrote:
--- Warren Ockrassa <[EMAIL PROTECTED]> wrote:
Ahh, but the other side of that is (for instance)
how rare asteroid
strikes to Earth have been; it's probably not going
to happen as long
as our species is around. However, would you agree
with capitalism's
logic that it's inefficient -- therefore unwise --
to plan for such a
contingency and develop technology to help us
prevent it?
That's not the logic of capitalism. It's barely even
the logic of some sort of cliched stereotype of
capitalism. Protecting against risks like that is
what is called a public good. Somewhere around your
second week of a first year economics class, they'll
explain that public goods are things that markets
don't provide for adequately, and this is when
governments have to step in. Gasoline is, however,
not much of a public good.
What a load.
Ever hear of the "Strategic Petroleum Reserve?" Apparently,
someone, somewhere thought that the government needed to
step in to ensure a consistent supply of this public good.
Dave
_______________________________________________
http://www.mccmedia.com/mailman/listinfo/brin-l
