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Technology Stocks : JDS Uniphase (JDSU) -- Ignore unavailable to you. Want to Upgrade?

To: Tunica Albuginea who wrote (21736)	9/29/2001 3:05:12 PM
From: OWN STOCK	Respond to of 24042

Response to John L. Chapman Department of Economics University of Georgia Dear Professor: Premise: We both believe in the principles of Capitalism and Democracy. Result: The simple fact is that the Government appropriated the investors money through taxes, and made the investments they (the individual investors) were not willing to make. The individual investors were not willing to make the investments for sound reasons: the presumption behind the theory of pure capitalism is they do what is best for themselves at all times. In practice, most of the capital in society is held by a very small percentage of the population. Capitalism places power in the hands of a few. The principle of pure Democracy is the equality of all people, and the right of those people, by voting, to control their collective destiny. Democracy places power in the hands of many. Thus there is a fundamental conflict between the principles of pure Capitalism and those of pure Democracy Government taxation and investment attempts to balance the fundamental flaws of pure capitalism: the metric of the individual, with the needs of society as a whole. What the Economy Needs Now What the economy needs now is some bravery; someone to stand up and defend it. Individuals, acting alone, cannot do it. Just as it would be foolish for an individual or small group of individuals to try to defend a state against an invasion, it would be foolish for individual investors to attempt, on their own, to defend the economy. Thus, it is necessary for the Government, acting as an economic army, to change the course of the economy. Having said this, it is important the investments chosen by the Government will result in long term economic benefit to the country. It is well recognized that the infrastructure of the country is in very poor condition, as is the government and military communication networks, air traffic control, DMV identification and registration, etc. This state of affairs in and of itself is a drag on the economy. Most of these will require massive spending to update antiquated IT and communication networks to the 21st century. Alan Greenspan has indicated many times that the single largest factor driving the world economy is the increase in individual productivity, driven by improved IT and communications. These are the areas the Government should make investments in, and it will result in broad improvements in the economy as a whole. -Own