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To: ahhaha who wrote (2269)	5/16/2001 5:33:06 PM
From: frankw1900	Read Replies (1) of 24758

Hell, no. I don't want to go scrabbling for references. Mostly I think we agree about Minsky. I just have a soft spot for him because the description he served up in his book allowed me to navigate the financial shoals of 1997 -2000 and make some money.... Minsky changed his spots. Yes but not all of them: "Compensation for work performed should be the major source of income for all. Permannet dependence on expanding sysytems of transfer payments that have not been earned is demeaning to the recipient and destructive of the social fabric. Social justice and individual liberty demand interventions to create an economy of opportunity in which everyone, except the severely handicapped, earns his or her way through the exchange of income for work. Full employment is a social as well as an economic good. Last two sentences gives the game away. But in the following paragraph is a sentence which defines him as a socialist despite any denial he might have had of being one and I think its's confused: "I tend to favour personal freedom and democratic rights; the safeguarding of so-called property rights -- even if property rights lead to the narrow economic efficiency of orthodox theory -- is not to my mind equal to the extension of individual liberty and the promotion of individual justice." I think property rights are intrinsic to personal liberty. Socialists never think so. They always want to make them dubious - "so-called." I live in the last outpost in N. America where a government still outright says it's OK to take your property, and we're going to vote the villains out today, finally. I don't need no lecturing on socialists. [Free market capitalism] it is no system. Yes, I've always thought that - it's more like a lot of ecologies which connect from time to time and we have to describe them and their connecting and disconnecting. FrankW

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