On Sat, Jan 23, 2010 at 11:50 AM, Jim Devine <[email protected]> wrote: > raghu wrote: >> No. A far-sighted capitalist will sacrifice some wealth maximization >> in order to make sure his children and grand-children will continue to >> live off of other people's toils. That requires that (a) healthy, >> well-trained workers continue to be available to toil for his kids and >> grand kids and (b) a decent economy and infrastructure is maintained >> to support a high standard of living for said grand kids. > > I don't get this, even though raghu is getting very repetitive here. > It's quite possible for a far-sighted capitalist to do all sorts of > illegal, immoral, or downright disgusting activities (such as Joseph > Kennedy's booze-smuggling) and _then_ diversify out of crime -- > indeed to launder all of the illegally- or immorally-gotten assets > into a nice, diversified, legal, and safe portfolio. That would do as > much for his or her children and grandchildren to live the life > they've become accustomed to, along with all the prestige and power > (cf. the Kennedy sons). This kind of rip-and-run strategy has been > applied again and again.
I am also getting tired of repeating myself, but I'll do so just one more time: "rip and run" capitalism does not work if everyone does it. A few people individual capitalists can do it and get away with it but if done on a economy-wide scale, we get depression like we have now. -raghu. -- Eat the rich, the poor are tough and stringy. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
