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To: j-at-home who wrote (20545)	1/6/2005 12:29:23 AM
From: CalculatedRisk	Read Replies (5) \| Respond to of 116555

Well written and you are not alone. I've written about the failures of the free market on this thread - such as monopolies, inequitable wealth distribution, equilibrium at any level of unemployment (not socially acceptable), abuse / overuse of common resources (air, water, etc.). Free market capitalism is a tool. It is a very good tool, but it is just a tool. The GOAL of political economics is more along the lines of John Mill; to maximize the welfare over all the people ... sometimes hard to define but our goal is to achieve that or something similar. For some people, the free market is almost a religion. Its the only economic tool they know. I'm reminded of that old quip: "If the only tool you have is a hammer, you will see every problem as a nail." . Best to you!

To: j-at-home who wrote (20545)	1/6/2005 12:49:47 AM
From: RealMuLan	Read Replies (1) \| Respond to of 116555

Thank you, J, excellent post! as always. Best regards

To: j-at-home who wrote (20545)	1/6/2005 1:51:21 AM
From: Elroy Jetson	Respond to of 116555

While Grace is indeed a shrill defender of status quo Monetary Socialism, it's not fair to call her a Capitalist. Given the fact that she is not well acquainted with Capitalism, and frankly finds much of the Capitalist system inappropriate to our modern life, I think this is quite misleading. Those who have found a modicum of success in their lives as a result of the subsidized over-lending system of Monetary Socialism are naturally inclined to be singing it's praises. If you had her foresight to have been among the first in the welfare line, even you might be tartly singing the praises of Monetary Socialism. On the other hand, those with significant capital who would fare better under Capitalism are usually and understandably far less enamored of our current system of Monetary Socialism than are people like Grace. .

To: j-at-home who wrote (20545)	1/6/2005 10:41:25 AM
From: copper000	Respond to of 116555

You're my HERO! Thank you for the post.

To: j-at-home who wrote (20545)	1/6/2005 11:30:49 AM
From: benwood	Respond to of 116555

Thanks for your thoughtful & insightful post, J. --Ben