Ray Harrell wrote,
>The argument I have made on these lists for a number of years is that this
>is all related to value. What one decides to value and pay money for.
>Today in the U.S.
>they have decided to pay the money they used to pay for the commodity milk,
>for stocks and bonds instead. (see my post about Rukeyser)
snip. . .
>Here we value the idea of the market, the official state religion in the
>U.S., over the idea
>of bread and so we even enslave the growers of wheat by keeping the price of
>bread far
>below the cost of growing it for the advantage of the stock "market".
Ray,
I agree. The "idea of the market" is valued so highly that the market, as it
is, has to be contorted to conform to that idea. No matter if all the
signals are falsified, if the entire state apparatus has to be transformed
into one big stock market transfusion (witness social security) the result
is the illusion that the idea of the market is more real than any actual
market could ever be. The kind of "economics" that applauds this travesty
calls itself "value free".
Tom Walker
http://www.vcn.bc.ca/timework/
