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These ideas on capitalism were somewhat appropriate for the early 19th
century capitalism, before the days of railroads, mega banks, insurance
companies,and large industries. They are out of date for todays oligarchial
capitalism. Ayn Rand's ideas are as bankrupt now as they were when she
first published them. They provide no direction in todays economic world.
They do provide palliatives for those who like to believe that if someone
is poor and helpless its their own fault.
I live in Houston, TX. Its a city where the retail stores systems are
almost all dominated by large mega chain stores. It is extremely difficult
for independant stores to survive, and many haven't. So much for the value
of Ayn Rand's ideas. If we are to continue talking about todays version of
the capitalist system, let us talk about what it is and not about what it
never really was.
Lionel Issen
At 02:40 PM 1/13/98 -0600, Richard Estes wrote:
>I think you would agree:
>
>Capitalism .. leaves every man free to choose the work he likes, to
>specialize in it, to trade his products for the products of others, and go
>as far on the road of achievement as his ability and ambition will carry
>him. His success depends on the objective value of his work and on the
>rationality of those who recognize that value. When people are free to
>trade, with reason and reality as their only arbiter, when no man may use
>physical force to extort the consent of another, it is the best product and
>the best judgement that win in every field of human endeavor,and raise the
>standard of living - and of thought - ever higher for all those that take
>part in mankind's productive activity.
>
>Ayn Rand from "For the New Intellectual"
>
>As for charity, no man has a claim on another. If one chooses to give to
>someone worthy of help in a volunteer manner, fine. But it should not be
>forced by the STATE. It should be given for the person's or group's
>strengths rather than their flaws.
>Richard Estes
>-----Original Message-----
>From: Greatelto <Greatelto@xxxxxxx>
>To: altag@xxxxxxxxxxxx <altag@xxxxxxxxxxxx>; metastock-list@xxxxxxxxxxxxx
><metastock-list@xxxxxxxxxxxxx>
>Date: Tuesday, January 13, 1998 2:09 PM
>Subject: Re: Capitalism
>
>
>>Al....
>>
>>You are talking only about trading.....which is a miniscule part of
>capitalism
>>and creating wealth. You may trade a stock and win while someone else
>takes
>>the other side and loses. But capitalism is more than that! Somebody
>founded
>>the company, developed a product(s), created jobs (which did not exist),
>took
>>the company public (investors hopefully made money)....in essence created
>>wealth which helped expand our economy. You merely traded the
>stock....there
>>is a hell of a big difference.
>>
>>I know what you and Harley are talking about. I just happen to think that
>you
>>both have very narrow opinions about creating wealth. Making a winning
>trade
>>is more like transferring wealth between two parties. I consider creating
>>wealth within our capitalistic system as described above.
>>
>>Jerry
>>
>
>
>
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