Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Mark Adams who wrote (11428)	11/27/2001 3:58:26 PM
From: Maurice Winn	Read Replies (2) of 74559

<The means exist to escape from this stale past and define a different social reality for the future: by democratizing capitalism, by ensuring that over time the ownership of capital will itself become broadly shared, dispersed among workers, citizens at large and communities, more or less universally.> That's called communism and we all know what happens there. The idea that capital is some entity like gold which can simply be shared around is false. If you give everyone some of that capital, they will divide up into the lucky, unlucky, smart and stupid and some will have capital and expand it. Others will destroy their capital by bad decisions. By confiscating it from those who have it [the only way to carry out the plan] and giving it to those who don't, the destruction of capital on a grand scale is assured. That means the creation of poverty on a grand scale is assured. That's because those who have the capital have applied their intelligence and luck and ended up with the capital. Those who had dumb ideas, such as investing in Globalstar or Global Crossing, have done their dough and destroyed a huge amount of capital. Capital is like evolution of DNA; the lucky and smart survive. Those who are fit for the purpose go on to success. Those who are not fit for the purpose are filtered out of the gene pool. Faulty DNA can't be made suitable by stealing from those with the good DNA. Similarly, faulty capitalists can't be made good by giving them other people's capital. I heard that envy is one of the seven deadly sins. Mqurice

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