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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: smolejv@gmx.net who wrote (17898)4/6/2002 8:50:51 PM
From: Raymond Duray  Read Replies (1) of 74559
 
Hi Dolinar,

Re: the social concensus in Germany can turn out to be just one more reason to keep things as they are

One aspect of the "free enterprise" theology that drives me crazy is the stupid notion that change, for it's own sake, is good. All too often, as was the case in the 1980's creative financing binge of the bankers and the "Predator's Ball" parasites, they insisted on breaking up perfectly viable, if sluggish and self-satisfied corporations. The result was that many fine businesses were destroyed, many retirees had their "golden years" turned to lead and a few clever manipulators like Michael Milken made billions, sharing none of it with the workers they had fleeced. The problem with the creative destruction of the Hayek/von Mises type of jungle capitalists is that they make the destroyers appear heroic by calling them creative, while turning a blind eye to the inherent lack of fairness in their economic theology.

Just a thought.... <smile>

Best, Ray
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