On Dec 6, 2007 6:34 PM, David B. Shemano <[EMAIL PROTECTED]> wrote: > Raghu writes: > > >> True. But the political and market processes are inseparable parts of > >> the capitalist system as a whole. Failure to recognize this is the > >> central weakness of the libertarian ideology. > > What don't libertarians recognize? In my experience, libertarians are > consumed with the interrelationship between the political and market > processes, and are extremely pessimistic
I was referring to your statement "every example of Subsidized Moral Hazard you identify (or could identify) is a product of the political process, not the market process." This reflects a failure to recognize that the poltical and market process are one and the same thing. It is misleading to pretend that they can somehow be separated. -raghu.
