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Politics : Formerly About Applied Materials

AMAT 332.72

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To: Cary Salsberg who wrote (46578)	5/10/2001 11:58:54 PM
From: Sam Citron	Read Replies (2) of 70976

You are correct that I am enamoured of the competitive market as the best means of allocating scarce resources. But believe me, this respect does not derive from any ivory tower perspective of how markets are expected to perform. Ken Galbraith was still teaching economics when I entered Harvard in 1976 and such pure views were not in vogue. Rather, my respect for markets derives from the simple fact that markets will always be the final arbiters of supply and demand in a free society. I would not pretend that markets are always subject to pure competition and that is where I believe government has a legitimate role to play, to level the playing field, prevent abuse of market power, etc. As I implied in my previous posts, I have little sympathy that one of the wealthiest segments of American society (software programmers and engineers) should begin to feel some competition from the third world. The inefficiency of the American software industry is almost legendary (cf. John Brooks, The Mythical Man Month, etc.) What makes them worthy of protective status? Jean Valjean a programmer -- give me a break!

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