Re: [PEN-L] Moral hazard

[Julio Huato]

What the economists consider as "systemic" (or macro) risk under
capitalism includes a lot of faux systemic risk -- i.e. risk that
arises from the specific nature of capitalism.  As I suggested, *that*
risk is entirely diversifiable... by building communism.  Remember,
the economists consider the basis of capitalism, markets and
inequality, as facts of nature.  But they are not such.  Ultimately,
the only true systemic risk facing humans is the risk that arises from
their collective interaction with nature (including here, of course,
their own human nature).