>One of the reasons that I hestitate to post on the crash list is precisely the type
>of
>response Julien put forward. I am thoroughly familiar with his line of argument and
>do not disagree with it. In fact, I have addressed practically all the issues Julien
>raise in previous posts in recent years on may other lists.
I learned last summer that you weren't what you seemed to be (from Mark I guess),
so my response wasn't personal but about what you argued.
Note that I wasn't systematically playing the I'm-more-revolutionary-than-you game
even if I assumed that role in one of the posts (I can also do roleplaying, didn't you
notice the irony at the end?). F.ex. what I said about Greenspan policy objectives
(inflation and not the level of the stock market or M2) is very much in line with the
mainstream. So you see, I don't want to be "pure in spirit" or something. While on
this list, I attacked marxist positions and posted anti-immigration arguments not to
mention even more foul stuff.
IMHO, you're often going too close to mainstream positions when doing that kind of
internal criticism. When I lurked there, there were people on PKT arguing much
more sensible positions without beign revolutationaries and while holding
academic positions. F.ex., what's the point in saying that equity investment is
optimally allocated when you don't think it is? Even the serious mainstream (as
opposed to the propaganda machine) recognises it.
Also, with due respect, your argument that as long as there's no armed uprising we
have to bow to the mainstream is a red herring. Organisations like ATTAC have
been successful in challenging the establishment's propaganda and even to some
extent in getting things done without adpoting such a low profile. There is a world
between the RAF and Wall Street!
BTW, if you fear responses such as mine, why not inserting a tiny disclaimer or
something?
>Revolutionaries are
>unwittingly often the biggest obstacle to revolution by their tnedency of sweeping
>condemnation.
I don't claim to be a revolutionary and didn't intend to condemn you.
Now that this is out of the way, I don't mean to steal your valuable time but if you
fell
like losing some time why not explaining some of the reasoning behind what your
posted (like I asked in my previous post)? F.ex., why is equity financing superior to
debt financing?
Julien
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