> [Krimel] > I think your point about the "free market" is dead on. In fact Adam > Smith's > "invisible hand" is nothing more than a probability distribution that > describes certain aspects of random interactions in a market. For someone > as > befuddled about "Oops" as Platt, it is odd to see the faith he places in > the > "oops market". Really that is all a totally free market would be; an > economy > completely at the mercy of random forces. Governmental regulation of the > market imposes the values of society into the market and says we cannot > buy > and sell people or nukes.
Krimel steps into it again. The market consists of producers and consumers acting by choice. According to Krimel's analogy, the world evolves not by chance (oops) but by choice. He's right! He's learning!. > We know from past experience that when the banking industry is > unregulated > the economy will run through 10 year cycles of boom and bust. These > cycles > ended for nearly 50 years after the past great depression as regulations > were enacted to smooth them out. It is no coincidence that the Raygun > revolution's dismantling of federal regulation has given us a return of > the > very woes the regulations were designed to prevent. This was explained > in > terms that even Platt should understand on the Daily Show recently: The recent "woes" of the banking system was brought on by regulations and regulators requiring banks to make mortgage loans to deadbeats. That Krimel gets his understanding of economics from a comedian says volumes. Platt Moq_Discuss mailing list Listinfo, Unsubscribing etc. http://lists.moqtalk.org/listinfo.cgi/moq_discuss-moqtalk.org Archives: http://lists.moqtalk.org/pipermail/moq_discuss-moqtalk.org/ http://moq.org.uk/pipermail/moq_discuss_archive/
