Hi Richard Ruquist 

I stand corrected, except to say that highly leveraged buying 
is not what Adam Smith had in mind. The von Mises or Austrian
school, if followed, could well have prevented those mishaps. 
According to von Mises, such collapses occur because there
is too much money in circulation because the interest rate
is too low, so spending is more foolish than enlightened,
utimately bringing on a collapse when the bubble can't be sustained.

Had Greenspan followed that advice, the housing bubble
collapse wouldn't have happened because there'd be
no bubble. 


Roger Clough, rclo...@verizon.net
9/8/2012 
Leibniz would say, "If there's no God, we'd have to invent him 
so that everything could function."
----- Receiving the following content ----- 
From: Richard Ruquist 
Receiver: everything-list 
Time: 2012-09-08, 07:39:10
Subject: Re: fairness and sustainability


But Roger, capitalism can go both ways
as witnessed by the Great depression
and the Great Recession.
Richard

On Sat, Sep 8, 2012 at 6:35 AM, Roger Clough <rclo...@verizon.net> wrote:
> Hi John Mikes
>
> Here's the dilemma:
>
> Unfortunately, any system -- with the exception of the oil-rich countries
> (where fairness would seem to be hard to define) --
> that is completely fair is unsustainable. Capitalism,
> like it or not, is the only known way to increase a
> country's wealth. Fairness decreases a country's capacity
> to grow. Darwin would agree.
>
> Cuba and the former soviet union and now europe
> are good examples. They all failed in trying to be completely fair
> or are in the process of failing.
>
>
> Roger Clough, rclo...@verizon.net
> 9/8/2012
> Leibniz would say, "If there's no God, we'd have to invent him
> so that everything could function."
>
> ----- Receiving the following content -----
> From: John Mikes
> Receiver: everything-list
> Time: 2012-09-07, 14:44:26
> Subject: Re: There is no such thing as cause and effect
>
> Brent,
> 
> I believe there is a difference between (adj) 'fair' or 'unjust' and the
> (noun) 'fairness', or 'consciousness'.
> While the nouns (IMO)?re not adequately identified the adverbs refer to the
> applied system of correspondence.
> E.g.: "Fair" to the unjust system. (I don't think we may use the opposite:
> "unjust" to a 'fair' system in our discussion).
> As I tried to explain in another post: the 'rich' consume MORE of the
> country-supplied services than the not-so-rich and pay less taxes (unfair
> and unjust). Certain big corporations also pay 'less' than the system would
> require
> (in all fairness - proverbially said) ordinarily.
> Semantix, OOH!
> 
> John M
>
> On Tue, Sep 4, 2012 at 4:18 PM, meekerdb <meeke...@verizon.net> wrote:
>>
>> On 9/4/2012 1:12 PM, John Mikes wrote:
>>
>>
>> 
>> It is a 'trap' to falsify the adequate taxing of the 'rich' as a leftist
>> attempt to distributing richness. It does not include more than a
>> requirement for THEM to pay their FAIR share - maybe more than the
>> not-so-rich layers (e.g. higher use of transportation, foreign connections,
>> financial means, etc. - all costing money to the country) in spite of their
>> lower share in the present unjust?axation-scheme.
>> ...
>>
>> And PLEASE, Brent, do not even utter in econo-political discussion the
>> word "FAIRNESS"!
>>
>>
>> So is it OK if I use "FAIR" and "unjust"?
>>
>> Brent
>>
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