John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: Raymond Duray who wrote (6294)	6/15/2002 5:17:44 AM
From: Yorikke	Read Replies (1) of 33421

Ray, "Anyone defending the present system is defending the indefensible." Actually now is the time to defend the system; at least the economic aspects of it. 'Free Market' economics did not bring this situation on. What brought it on was the effort by the privileged and arrogant to subvert the proper flow of information. With proper timely information flows this situation would never have occurred to the degree it has. The second point I would like to raise is the concept that markets in and of themselves can be biased. Over short periods of time (weeks, years...) they can be pushed into disequalibria by changes in products and information flow . This disequalibria does not in itself constitute any kind of 'evil'. Its just the way markets react and function. However these surges may have severe effects on society. At times Government and the people have been smart enough to realize that the social costs of unregulated markets far out weighs the benefits derived from them. The radical swings that can occur in unregulated markets can ruin a generation's hopes, and leave a nation vulnerable to social upheaval. (Some would call that an advantage and catalyst for change)... I tend to think that people have a right to live boring lives undisrupted by cataclysmic social unrest. The point I'm making here is that the problem is not in the concept of free markets and Capitalism, the problem is in the way we choose to regulate and enforce the basic rules necessary for such market to function and how much we let market theory guide our concepts of life. I for one would like to see more oversight of corporate activity, greater protections for the lower, middle and upper middle classes at the expense of the rich (income tax that shifts the burden onto the 10 percent who control 90 percent of the resources , restriction of the rights of corporations ( corporations should not be considered legal individuals.). and a quadrupling of the sentences placed on corporate white color crime convictions, and the staff to pursue these cheats. I would also like to see the concept of universal access to a good education placed among those concepts that constitute a strong national defence. (Where do we get the money? I know a schiester who foisted a crappy operating system on me who could contribute billions to the government till....and there are plenty like him.) You and I have pointed out for a long time the follies that the media now suddenly sees. It may be time to defend the real systems that function in hopes that misguided change does not gut them, or make them worse. have a good weekend.

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