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Strategies & Market Trends : ahhaha's ahs

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To: GraceZ who wrote (8003)	4/13/2006 3:37:47 PM
From: ahhaha	Read Replies (2) of 24758

So do you think it is coincidental that the industrial revolution occurred in England, which had both the rule of law and property rights? More complex than coincidental but coincidental isn't far off the mark. Further, you can't glibly throw out the terms "rule of law" and "property rights" as though they were sone necessary ingredients of capitalism. They are ingredients to a certain form of capitalism, not necessarily efficient. It is almost surely the case that in the future these criteria will have to be compromised for the efficiencies available and needed in a fully competitive world. Notice how I'm putting the Austrians including Von Mises, Von Hayek, and Friedman, on their heads? They built their theories on the buried assumption of inherent stability. Stability is rarely available during periods of extended transition. Think it was just a few lucky technological inventions? Showing your prejudice for what has been taken in the past as an absolute truth? Better open you mind to new possibilities. Just consider. What happened to rule of law and property rights during the Roman Empire? Didn't capitalism still exist then?

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