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From: franka@mmintl.UUCP (Frank Adams)
Newsgroups: net.politics.theory
Subject: Re: capitalism vs. democracy???
Message-ID: <894@mmintl.UUCP>
Date: Mon, 16-Dec-85 10:39:43 EST
Article-I.D.: mmintl.894
Posted: Mon Dec 16 10:39:43 1985
Date-Received: Thu, 19-Dec-85 19:19:33 EST
References: <261@gargoyle.UUCP> <286@frog.UUCP> <267@gargoyle.UUCP> <1793@teddy.UUCP> <27@cascade.ARPA> <1802@teddy.UUCP>
Reply-To: franka@mmintl.UUCP (Frank Adams)
Organization: Multimate International, E. Hartford, CT
Lines: 30

In article <1802@teddy.UUCP> lkk@teddy.UUCP (Larry K. Kolodney) writes:
>Nationalizing the Banks would certainly be a good step.  A less
>exploitative foreign policy would also help (i.e. don't crush
>nationalistic rebellion, cooperate with foreign government attempting
>meaingful economic reform, rather than those "favorable towards U.S.
>investment). 

Nationalizing the banks would be a disaster!  Instead of being independent
power sources, they would all be added to what is already the greatest
accumulation of power in the world.  Now if you need to borrow money,
there is only one place to go -- and you had better have good political
connections if you expect any success.

I will agree that the accumulation of power in corporations is intrinsically
a bad thing.  BUT, that power must be accumulated.  Building a new
commercial airliner, for example, costs $1 billion or more.  So someone
has to have the power that control of that kind of money brings.

There are essentially only two known solutions to this requirement.  One is
corporations, and the other is to have the government control it.  The
latter option has demonstrably worked less well in practice.

Truely meaningful economic reform would be a very good thing.  It did wonders
for Japan, South Korea, Hong Kong, and Singapore.  I suspect what you have in
mind, however, is government control of the economy -- i.e., socialism.  This
policy has been adopted by most of the rest of the third world.  It, too,
has done wonders -- at preventing growth.

Frank Adams                           ihpn4!philabs!pwa-b!mmintl!franka
Multimate International    52 Oakland Ave North    E. Hartford, CT 06108