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Pastimes : Let's Talk About Our Feelings!!!

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To: Andrew H who wrote (27749)	1/8/1999 12:57:00 AM
From: Jacques Chitte	Read Replies (3) of 108807

> Adam Smith, the great philosopher of the free market, strongly believed that the free market resulted in the collective good.< The singular problem here, one which the Libertyrannosaurs won't admit, is that an unfettered market tends to exhaust potentially renewable resources. The value assigned to "saving some for a rainy day" is zero. Look at whalers. If all countries sign a no-whaling treaty except one, the holdout makes out like a bandit until the whales are gone. One party wins temporarily. Everybody loses permanently. The only way to manage and retain resources with a slow regeneration rate (anything biological? clean water? etc.) is by collective decree. The value of saving some for a rainy day is obviously much greater than zero. This valuation needs to be assigned and enforced by a supramarket agency. Only governments have that sort of clout. Remember Easter Island! They cut down all their wood, then died out on an artificial desert island. Making big-ass basalt gods didn't help.

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