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.

Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Alex who wrote (20503)	10/3/1998 6:22:00 AM
From: Bobby Yellin	Read Replies (2) \| Respond to of 116753

another great find Alex..never liked Galbraith until I read this article..I guess being on this planet for 90 years has given him plenty of time to test his observations.. "He says the great movements of capital around the world cannot be halted. All you can do is move to something like the Tobin tax (promoted by the American economist James Tobin), which would set a 1per cent levy on all foreign currency transactions. This would not stop money sloshing between sovereign nations but it would provide better information about the tides." thought that idea was pretty interesting.. glad he mentioned this one "And nobody wants to shift gear: "As countries develop an affluent class they also develop a psychology which, in effect, holds that anybody can make it and that therefore you look after yourself and not after the others." plus the followup "And that is, to repeat, the result of the fact that as people become richer they become more interested in themselves and more inclined to blame the poor for their own misfortune. They also have money and political voice too which is extremely important." this one about not greed I really liked "I came to [an understanding of] power through studying economics and becoming aware of how much of the thrust of economics is associated with the search for power," he says. "It is most clear in the great corporations, where the thrust for power both internally and externally is very strong and quite possibly stronger than the search for economic reward." with the following one I wish he had added a thought that with the flow of wealth into a few hands it eventually leads into a strangulation of consumer buying and has to reduce demand..I keep on saying how many hamburgers can Gates eat or even worse how much money does a Warren Buffett spend..(last time I heard he drives an old car and hasn't upgraded to an expensive house and doesn't have a computer) "The income gap is greater than ever and is increasing steadily in the United States: a handful of the richest Americans now have more money than several million of the poor, he says."