You read the book or an interview? that tax on capital gains might be an idea. One of the problems with pure capitalism is how to force businesses to deal with externalities, or costs that are borne by other people, such as pollution.
On 11/27/05, Gruss Gott <[EMAIL PROTECTED]> wrote: > > Dana wrote: > > by the way Gruss, this seems like your kind of thing: I heard an > > interview this morning with Paul Krugman > > Yeah, read it and have been reading his column for years. I find him > to be about 50/50 with everything he says, meaning 50% of what he says > is great, but the other 50 is wacko. > > A great new book out is 'The Battle For The Soul Of Capitalism' by > John Bogle, founder and former CEO of Vanguard. > > He essentially says that the best form of capitalism is an "ownership > society" where the citizens provide the capital and therefore own the > corporations. He posits that we've gone from that to a "management > society" where citizens provide capital to managers (of mutual funds, > hedge funds, and other money managers as well as corporate) and the > managers now control capitalism. > > Because the managers control the capital, he says, they act in their > best interest which is usually not in citizen's best interest. He > offers solutions to fix this such as high taxes on short term capital > gains thus encouraging investors to take the long view. > > http://www.amazon.com/gp/product/0300109903/102-5674722-4354500 > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Purchase RoboHelp from House of Fusion, a Macromedia Authorized Affiliate and support the CF community. http://www.houseoffusion.com/banners/view.cfm?bannerid=59 Message: http://www.houseoffusion.com/lists.cfm/link=i:5:184151 Archives: http://www.houseoffusion.com/cf_lists/threads.cfm/5 Subscription: http://www.houseoffusion.com/lists.cfm/link=s:5 Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5 Donations & Support: http://www.houseoffusion.com/tiny.cfm/54
