Harry, I became an economist to understand how "the system works." My Ph. d. thesis was "Imperfect and Monopolistic Competition in Historical Perspective." I don't want to bore the others with the many ways in which markets are imperfect. They are and no amount of assumptions (perfect knowledge, perfect mobility, no brand identification, no advertising, price takers, etc., etc.,) is going to change the reality of imperfect markets. They are and it is best to talk about ways to make the current system, the one we deal with each day in manifold ways, work for the commonweal than to assume a world that doesn't exist and talk about why it is the best way.
Theology is one thing imperfect and workable competition is something else. arthur -----Original Message----- From: Harry Pollard [mailto:[EMAIL PROTECTED]] Sent: Monday, December 02, 2002 1:10 AM To: Cordell, Arthur: ECOM; [EMAIL PROTECTED]; [EMAIL PROTECTED]; [EMAIL PROTECTED] Cc: [EMAIL PROTECTED]; [EMAIL PROTECTED]; [EMAIL PROTECTED]; [EMAIL PROTECTED]; [EMAIL PROTECTED]; [EMAIL PROTECTED]; [EMAIL PROTECTED]; [EMAIL PROTECTED]; [EMAIL PROTECTED]; [EMAIL PROTECTED]; [EMAIL PROTECTED]; [EMAIL PROTECTED]; [EMAIL PROTECTED]; [EMAIL PROTECTED] Subject: RE: Whining ("Stop it! And say: 'Thank you'! .... ) Arthur wrote: >Selma, > >Markets are imperfect. The theology is what Harry is talking about. The >reality is what you have pointed out. Arthur So, economics is imperfect - why did you become an economist? To enjoy the theology? Selma, In the first part of the 19th century, people were falling in the street from hunger. This because import controls kept cheap American corn out of he country. You know, the line that we must protect our producers even if the people starve. A group of Liberals and Conservatives. got together to end the Corn laws and they succeeded in 1846. Cheap corn flooded into Britain. for 60 years Britain was a free trade country and became economically powerful. Didn't distribute wealth to the poor, though they were probably better off because of the cheap food. It was also the beginning of social welfare and the destruction of the power of the House of Lords. It was awfully practical theology. However, there's an example of the United States - an enormous free trade area. Can you imagine our balkanized situation if States were allowed to put up customs barriers against each other? It boggles the mind. Harry ****************************** Harry Pollard Henry George School of LA Box 655 Tujunga CA 91042 [EMAIL PROTECTED] Tel: (818) 352-4141 Fax: (818) 353-2242 *******************************
