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Technology Stocks : Disk Drive Sector Discussion Forum -- Ignore unavailable to you. Want to Upgrade?

To: Sam who wrote (1695)	12/6/1997 6:02:00 PM
From: Frodo Baxter	Respond to of 9256

What's with you people? Taking economic advice from Greider and Kuttner? Have your loses in the drive sector put you in a macroeconomic funk? Maybe you need a refresher course... 1. Capitalism has no morals. >Of course, the problem is that underpaid workers become neither investors nor consumers. And that is where the glut comes from. And why capitalism, in order to actually succeed and not degenerate into a really vicious political system with a few "haves" and many "have-nots" with disastrous, dehumanizing consequences (a situation that Marx, cynic that he was, regarded as inevitable) must have a least a modicum of morality, and reward workers at least somewhat commensurately for their production. The term robber baron comes to mind here. A huge divergence between the "haves" and "have-nots" is the necessary precursor for an educated, broad middle-class. Even Carnegie did not "reward workers at least somewhat commensurately"-- what he did was to take his ill-begoten gains from exploiting his workers and donated it to libraries. 2. Crony capitalism is not capitalism. Capitalism rewards success and punishes failure. Crony capitalism does not. At least the old pinkos pretended that their governing ideology had diffuse benefits while they lived high off the hog. >Governments need to adopt policies that actually encourage the development of a large and strong middle class, and discourage the development of obscenely huge fortunes. That is correct. And a two-party system is the most efficient way to go about it. What's the fastest way to develop a two-party system? Disallow the fiscal and monetary excesses that have kept the current leadership in power. Why do you think they're blaming currency speculators and foreigners? To escape blame. Let's hope it doesn't work and they get tossed out on their arses. It's already happening in Thailand. 3. Greenspan is still god. Greenspan thinks this deflation talk is all hogwash.