Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP Posting-Version: version B 2.10.1 6/24/83; site rabbit.UUCP Path: utzoo!linus!philabs!cmcl2!floyd!vax135!ariel!hou5f!hou5g!hou5h!eagle!allegra!alice!rabbit!jj From: jj@rabbit.UUCP Newsgroups: net.flame Subject: Re: Some thoughts on Capitalism Message-ID: <1974@rabbit.UUCP> Date: Mon, 26-Sep-83 11:00:42 EDT Article-I.D.: rabbit.1974 Posted: Mon Sep 26 11:00:42 1983 Date-Received: Wed, 28-Sep-83 03:51:05 EDT References: <205@houxu.UUCP> Organization: AT&T Bell Laboratories, Murray Hill Lines: 37 I don't agree with Larry's article at all. I would like to pick it apart piece by piece, but I don't have good enough memory retention to attack all the fallacies in his article. 1) Pure capitalism always fails. 2) You make a point about investing of profits and you argue that some of the people who make them will not have anything to spend them on, so they will get rich and control the economy. Clearly if they don't spend, they can't control the economy under supply and demand. Just as clearly, if they do spend, they may still be rich, if the business they run is that profitable. However, if they own something that profitable, in a FREE economy, someone else will be compelled to enter their industry and make less profit, forcing prices down. I can remember at least 6 or 7 other points, of somewhat lesser importance as far as your "proof" was concerned. As an aside, you comment that no single group, or coalition of them, could provide for defense. If they can't afford it, then by defination the government can't either. Sound familiar? I also think that one should consider intellegent capitalism, as the 5 year yield, etc, is a modern artifact that is nearly singlehandedly responsible for ruining the US economy. Your entire argument depends on the "capitalistic" owners being shortsighted, as per current standards. Please note that the current aberation in management is the result of shortsighted tactics espoused throughout the 30's-present. Please also note that a FEW companies have avoided this route. enough, I don't feel energetic enough to hack this old, tired, argument about socialism/capitalism into life again. rabbit!jj