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Richard,
I don't want to spend a great deal of time on this either. But I am
still not sure what you are trying to say. I haven't said anything about
Marxism. I made a comment about our free market. Also known as
capitalism. And as you may or may not know that our "free-market" is far
from free. Because I mention capitalism it doesn't equate to a
conversation about Marxism. So I am not sure what you mean.
I have read enough works by Schumpeter, Veblon, Keynes, etc. to
understand what the "strengths and morals" of capitalism are. (So if you
have read only one book by Rand, you might want to read about capitalism
by other authors). But this ( "strengths and morals" of capitalism ) is
different from historical events. Like the Soros example.
I am some what serious about economics, since I have a BS in Economic
from the University of Minnesota. We studied classical economics. You
know supply - demand, equilibrium, market clearing, free markets, no
government intervention, etc. You know capitalism.
Since I know something about capitalism through my education, are you
suggesting that I learn something about Marxism? Since it is not clear
what you are suggesting what the other side is.
The original intent of my comment, which you don't agree with, is to
remind others about where we live. And if we don't recognize the
realities of a capitalist society we can fall victim to it's harshness.
Because many in the USA are insulated from the hardships of capitalism,
we tend to forget. And the farther one lives from the poverty that
exists in the USA, one tends to not care or doesn't believe what is real
anymore.
Most of the persons who are on this list are some where in the process
of learning how to invest. We are trying to profit in a very unique way
from a free-market economy. If we don't respect the (stock) market
forces, we can lose money. A capitalistic society, of which I live in
(here in Minnesota), is no different. If we don't respect it's power, we
can be victims as well. Look at California several years ago when the
government reduced military spending. People were with out jobs.
California had a high rate of unemployment.
The currency speculation in the Pacific Rim countries is another example
of the realities of capitalism.
As an investor it is important to know fundamentals and technical
analysis. And if you invest in international markets you should know
something about international monetary policy. (Balance of payments and
current account.) But as we see today these foreign market effect the US
markets as well. So to some degree it is appropriate to discuss this on
this list.
Now are these my views on the world? Not at all. They are views on
classical economics and the history of it. Does classical economics
pertain to the world? You bet it does. Do we have people on this list
from around the world. Yes we do. Is there anyone on this list that is
effected by the Asian crisis or know someone that has been effected by
the Asian crisis? I bet there is. I have friends that live in some of
these effected countries. Do we in the US or in other counties not yet
effected, need to be concerned that the Asian crisis can affect us. Yes
we do. Why do you think Bill Clinton is getting involved. (In fact, this
crisis is taking me to a whole new level of learning about investing. By
looking at the balance of payments and current accounts).
Yes these are my views, but I hope they are tempered with more education
and less opinion. From your two posts I can only assume that you think I
am some sort of socialist or communist. Sorry but that's not my
generation. I am also going to assume that you don't know (which isn't
fair) that much about capitalism / free-market economies.
Now after writing all of this I can see why you might not accept my
assertion. I will agree it is a loose statement. But it still doesn't
change the general premise that the statement has some truth in it. Now
if I said "in a capitalist environment the name of the game for the
capitalist is to obtain as much wealth as possible. And many will have
less wealth as a result of the game." Does that make more sense. But I
have said the same thing. Just different words.
Well I had better go. Richard I hope you understand a little more about
what I said. I am also aware that this is the most difficult medium to
communicate. One loose sentence or miss typed word can cause problems.
You can respond if you want. I think I have said enough.
Harley
Richard Estes wrote:
> I thought Marxism was dead, I could not accept your assertions. Ayn
> Rand did
> an excellent job of defining the morals and strengths of Capitalism in
> a
> totally logical and objective manner.
>
> Since I assume you are serious about your economic views, I suggested
> you
> read the other side.
>
> This list is not the place for my or your views on the world, so lets
> quit.
>
> Richard Estes
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