On Sun, Dec 7, 2008 at 10:53 AM, John Williams <[EMAIL PROTECTED]>wrote:
> > But your statement above is not particularly insightful either. To say > that the market failed is either wrong or meaningless. The market is > made up of many participants each trying to achieve their own goals. > The market as a whole does not have a purpose or goal, and so cannot > fail at that goal. Nonsense. We rely on markets to be regulatory mechanisms, feedback loops that reward the efficient and penalize the inefficient. To fail to consider whether or not they are doing so is to abandon not only intellect, but also morality. Perhaps you meant to say that markets possess no *intention *(and are therefore amoral)? Nick _______________________________________________ http://www.mccmedia.com/mailman/listinfo/brin-l
