Zeev:
Me in favor of Marxism? Heaven forfend! All I am saying, perhaps should add -g-, is that there may be some finite limits to capitalism. Lord knows this system has provided me and most of the "free world" with an exceptionally good standard of living. But as government gets bigger and more regulated, the free market becomes less free. Also I do believe that competition, a wonderful an beneficial concept, may reach the point of diminishing returns, as when quality begins to suffer, or when more is spent on marketing than in making the actual product better. Health care, for example, is beginning to suffer from great marketing and crummier product delivery. And speaking of regulation, did you know that it is illegal for a millionare Medicare patient to open his checkbook and write a check to a doctor for more than Medicare "allows"?
I don't pretend to have the answers, just worrying about how far this "productivity" thing can go, which leads me to wonder about profit growth, stock market level, etc.
Jack |
