Wayne,
I think that the first is a good analogy, the second (CPI broken) is not, unless a better CPI measure is also provided.
Now, you are convinced that its calories from a bacon chesseburger, while I am open to the possibility that it may just be fruits and vegetables and would like to continue the experiment (I mean, whatever you say, its hard to argue with unprecendented success of the sort that AG has delivered). So, I guess that's where we differ.
Finally, I am for free markets, too. However, don't forget that MSFT was a product of unfettered free markets. Regulations, perhaps, are not all that bad. Note that Malayasia is the only Asian tiger to emerge relatively unscathed from the currency debacle, thanks largely to Govt. regulations on free markets; lack of which would otherwise have ensured blind, mindless capital outflow (and unnecessary pain and sufferring - unless one is a believer in mindless tough love ho ho ho) orchestrated by the hedge funds. Krugman, to his credit, belatedly appreciated the merits of such a measure.
Sometimes free markets need to be protected from themselves. Like, in democracy, we have an independent judiciary.
-BGR. |
