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Pastimes : G&K Investing for Curmudgeons
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To: Uncle Frank who started this subject7/10/2000 2:54:44 PM
From: areokat  Read Replies (2) of 22706
 
Anyone beside me notice the, to me, strange discussion on page 42 of LOTFL. That there was too much emphasis on wealth creation that is passed on to shareholders i.e. making shareholders too wealthy. Said many European and Japanese writers and executives did not like this feature of the American culture. He then said he also shared these concerns.
Also talked about this society as being out of touch with personal discipline, social responsibility and spiritual balance. Then threw in a wealth redistribution line on page 43.

Excuse me.

Well I guess the average Japanese stock market investor really appreciated the fact that the big investors were protected from losses when their stock market tanked but they weren't. Social responsibility don't you know.

Lets not forget all of the personal discipline many Europeans exercise in their welfare socialist states.

Hey, if America doesn't needed to be the world's policeman lets get on with it and hand over the responsibilities to those that have the spiritual balance to take care of their own problems. Home by Christmas boys.

Capitalism has its own internal redistribution mechanism. George Gilder wrote about some time ago in his Wealth and Poverty book. It’s called shirtsleeve-to-shirtsleeve in three generations. We don't need government redistribution processes because we don't have a caste system in the U.S.A.

cak@tirdofthosethatcritcisethiscountrywithdiscreditedsecondclassideas.edu
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