Dear Ed;
Just a small continuation of my last post in which I argued that:
In summing up this lengthy rebuttal, I have had to do some soul searching
about my concepts. Basically, I believe people come before profit and that
people are more important than profit. We could still have Capital, in
terms of savings, accumulated surplus, which are to be use to make life more
comfortable and more productive, but when we introduce the concept of the
rent of capital for profit, then, in my opinion we start putting profit
ahead of people and that does not fit my philosophy. Money is a tool we
invented to make life easier and more productive. Profit on speculation is
money misused in my opinion.
Quote from: Robert Weissman <[EMAIL PROTECTED]>
To: Multiple recipients of list STOP-IMF <[EMAIL PROTECTED]>
Subject: Ending the Reign of Wall Street
Nonetheless, it is clear that reclaiming citizen sovereignty from Wall
Street and its equivalents in Tokyo, Frankfurt, London and elsewhere will
require subordinating the needs of finance to those of people, and
imposing controls on the flow of money to protect national economies.
Thomas:
It would seem that the impending meltdown of the world economy - which may
or may not come to pass - is beginning to question the idea of unfettered
capitalism and currency speculation. A couple of days ago, Krugman an
economist as MIT, stepped outside the box to commit heresy by suggesting
that "capital controls" may be the only way to prevent speculators of
speculative capitalism from totally ruining the world. But basically, it is
the statement "subordinating the needs of finance to those of people," that
indicate to me that there might be some hope for us yet.
Respectfully,
Thomas Lunde
