Rick Monteverde wrote:
>> We are now living in the golden age of self determination,
>> free market competition, and freedom from government interference.
That's changing, and fast.
That is true. The trend is accelerating. People can educate their
children at home, which would have been against the law when I was
growing up. The internet has swept away nearly all censorship. It
seems likely that homosexuals will be allowed to marry or serve in
the military, and polygamous marriages may even be recognized. That
level of freedom would be utterly unimaginable in our history, or in
the history of any country.
Even the laws regulating corporations have been largely swept aside,
such as the Glass-Stegall limitations. Things like credit default
swaps are completely unregulated and unregistered. No one even knows
how many there are! At no time in our financial history has there
been so much hidden, unaccounted for investment risk. From the
founding of the Wall Street exchange, shares were registered and a
full accounting made. Public listing was the whole point.
It is far easier to start a company today than it was in 1920 when my
grandfather did that, or in 1979 when I did. Access to capital is
freer and fairer. Protection from anti-trust actions, unfair
competitors, extortion and the Mafia are much better than they were back then.
I sometimes think we may be going overboard in this direction,
especially with the unregulated investment risk. I hope that Obama
can put the brakes on it to some extent.
Many right-wing commentators believe the trends are opposite, and
that freedom and self determination is decreasing. These people don't
know much about history.
- Jed
