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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: Ilaine who wrote (5944)7/17/2001 2:04:54 PM
From: Don Lloyd  Read Replies (3) of 74559
 
CB -

...The next abracadabra is education. The wretched of the earth need to learn to read, write, and do arithmetic. After that comes higher math, medicine, and law.

Also, they need infrastructure - roads, bridges, power generators, water purification plants, sewage treatment plants.

None of these things are primary.

Unless the individuals emigrate, or telecommute internationally, their education is wasted in the absence of a government that respects and defends private property rights and in the absence of a division-of-labor economy that runs on free market prices and the profit motive.

Infrastructure by itself without an economy that can use it is just another public works project like the pyramids.

Regards, Don
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