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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Sweet Ol who wrote (144045)	1/22/2011 2:28:32 PM
From: kormac	2 Recommendations Read Replies (2) \| Respond to of 206094

A counter argument to F.A. Hayak is in K. Polanyi's book "The Great Transformation", in which he argues that unregulated marked eventually destroys the society and before this happens society will rise to defend itself against the market. The argument of Hayak is based on the notion of a slippery slope and he is right in that humanity does not see when enough is enough. That is how the creeping welfare systems become so burdensome that something has to give. But the same thing is true on the other side. If the economy does not serve a very large part of the society, what is it for? An economy which serves mostly the top 2 percent of the population is not healthy. We have been on this side of the slippery slope for the last 40 years and still sliding. Would not the best thing just to be to muddle along with our wits. Bearcat is much in favor of free market capitalism, but even he suggests that gasoline tax would be good for us. I have argued before that this tax ought to go to rebuilding rail system in our country. I structure all my thinking, not on price, but on energy scarcity that is soon to be upon us. Energy is the ultimate capital. As the French say, we are just three meals away from being savages. If we do not act soon we will be toast and best way to prevent it to give up on ideology and begin believing in the data that is coming on the absolute scarcity of fossil fuels that will descend on us during the next 20 years time. Next week it will be 15 years that I have been on these forums, so 20 years passed very quickly. msu.edu