I think there was a very important balance, that has been lost, between finance and industry. We've lost much of our industrial capacity and it seems that more shift has been focused on finance alone, which of course is crumbling.
Veblen writes: "...........the future of business enterprise is bound up with the future of civilization, since the cultural scheme is, after all, a single one, comprising many interlocking elements, no one of which can be greatly disturbed without disturbing the working of all the rest. In its bearing on the question in hand, the "social problem" at large presents this singular situation. The growth of business enterprise rests on the machine technology as its material foundation." Billions of dollars are being spent on this "mirage" of financial market stability while the balance remains one sided. It can't and won't work. They should revitalize our industrial capacity, the result being a recharge of our economic system. Right now I think the big wigs are just worried about saving wealthy butts and they are spending us deeper into the pit of despair. Over the past 50 of more years our leaders have led us down the path of ruin. On Mar 15, 1:02 pm, gruff <[email protected]> wrote: > Here's a very interesting NYTimes editorial on AIG. It seems they've > been doing some heavy gambling with the complicity of Congress which > specifically enacted law to ensure they could get away with it. > > Following the A.I.G. > Moneyhttp://www.nytimes.com/2009/03/15/opinion/15sun1.html?th&emc=th > > But the big question still remains. If AIG is allowed to go belly up > -- i.e., no more bailout money -- just how much of the economy will > come crashing down with it, and could our fragile economic condition > survive such a crash? The transparency called for in the editorial > is certainly necessary if for no other reason than to answer that > specific question. --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups ""Minds Eye"" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/Minds-Eye?hl=en -~----------~----~----~----~------~----~------~--~---
