Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : American Presidential Politics and foreign affairs -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (44887)	8/16/2010 7:51:30 PM
From: TimF	Respond to of 71588

you are so out of date and rely so heavily on the Austrian school of economics....a view that has not been popular since the early 20th century. I quoted Friedman and Adam Smith. The former of which won a Novel prize in the last quarter of the 20th century, neither of which where part of the Austrian school. I'm not rejecting scientific analysis, you are not presenting any. Your not preventing any type of analysis or argument for your contention that the Austrian school lead us to the financial crisis and then the recession. Probably because the US government was not setting policy based on its teaching, either in general or in the specific areas relevant to the crisis, so there would be no basis for any such argument. Beyond that even if somehow the Austrian school (who's ideas where largely out of use) somehow did lead us to the crisis, pointing that out would in no way be responsive to my point. Assuming that nonsense still doesn't refute the point that management "caring about the interests of the owner's who they work for and who the business belongs to is both morally and practically good". The fact that they will sometimes act against the interest of the owners and for their own interest instead is an example of the principle-agent problem. The answer to that problem is not to seek to make managers even less responsive to the owners. That's going backwards.