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To: arun gera who wrote (58696)	1/10/2005 7:35:15 PM
From: Maurice Winn	Read Replies (1) \| Respond to of 74559

Common pools are notoriously destructive and wasteful of property. <Every human being starts afresh. Get rid of property rights. Why pass down the ancestor's property? Donate them into a common pool. Many inheritors are dining on their ancestor's past glories> You are saying people can't pass property to other people. That's silly. When property was acquired by theft, it's another matter. Unfortunately, most "collective" property was acquired by conquest. And even lots of private property in the case of found wealth like oil, where ancestors killed opponents and took control of the assets. We are in transition to voluntary trading of property rights. The process should be speeded up. Handing property on to descendants is fair enough. But as $ill Gates and many know, it's not necessarily a good idea as the wastrels will turn it into nothing in two generations. They establish foundations to do good stuff. Trustafarians are not the most admired species. But they tend not to claim credit for their ancestor's work, usually, they just spend it. They dine out on the profits. But you raise an important point. The balance between the individual and the collective. We are far too much like serfs for my liking; mere cells in the body of Big Brother. Mqurice