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tartufe 12/08/2008 12:06 AM Report
REM - with your economic bent, you might like (parts of), "The Predator State: How Conservatives Abandoned the Free Market and Why Liberals Should Too," by James Galbraith (Son of John).
REMant 12/06/2008 01:07 AM Report
The argument is over the capitalist model, which is in fact, and always has been, argued along the social democratic line that industry should be rationalized and socialized and interested in welfare. Opposed to it is and always has been the republican or free-trade model, which argues that this all has to be a matter of individual choice, and self-reliance, beginning in self-doubt. Gates and it seems Buffett appear to be of the former and Andrew Carnegie clones, which is not IMHO saying anything very nice about them. Andrew Carnegie's point in The Gospel of Wealth was not only that ordinary ppl cannot be expected to be productive, but also that if given money in charity, they would not use it wisely, so you can see that the tenor of his thinking was patronizing: take the money from them, and then give some of it back to them under conditions, diverting the rest into the pocket. The larger issue is, however, of very great importance, as I've written about here several times before, and is to a great extent at the heart of the present economic crisis since the capitalist model needs inflation and monopoly to destroy the republican one. It is something of a shame that Gates never allowed himself a good education. Might have helped the design of his programs as well, which offer a lot of tools, but are often pointless, and hard for ppl, therefore, to learn. Summers' statement, BTW, is hopefully part of the reason why he has been shunted in the new admin.
tartufe 12/06/2008 12:08 AM Report
Read his Bad Money - great. Holding on this one as my Kindle has two life-times loaded already. But he's good.