Sometime It Really IS Different This Time

[due_indigence]

I do not subscribe to the Jeffrey Sachs thesis (noted in the video on the top page) that the financial markets are broken. On the contrary they are working only too well and reflect a profound existential crisis in our notions of value. This is not a financial crisis. This is a MORAL crisis. In the essay below, I cite the EJ article in Harper's as I feel he is one of the few economists who is hinting at a moral dimension to the unfolding crisis. Remember, Adam Smith was a Moral Philosopher who got parochialized by greedy economists.

http://www.ambusharts.com/issue1/norman_ball

--norm ball

[metalman]

Re: Sometimes, It Really IS Different This Time

I do not subscribe to the Jeffrey Sachs thesis (noted in the video on the top page) that the financial markets are broken. On the contrary they are working only too well and reflect a profound existential crisis in our notions of value. This is not a financial crisis. This is a MORAL crisis. In the essay below, I cite the EJ article in Harper's as I feel he is one of the few economists who is hinting at a moral dimension to the unfolding crisis. Remember, Adam Smith was a Moral Philosopher who got parochialized by greedy economists.

http://www.ambusharts.com/issue1/norman_ball

--norm ball

very good article, thx for submitting it.

no doubt about it... 'greed is good' is on the out. 'we work together' on the way in. let's pray it doesn't turn into 'let us work together toward a glorious future, comrade'.

[Mega]

Re: Sometime It Really IS Different This Time

Tax Revolt!
http://www.youtube.com/watch?v=tdpC4...ture=rec-HM-rn
Lets do IT!!
Mike

[Scot]

Re: Sometimes, It Really IS Different This Time

very good article, thx for submitting it.

no doubt about it... 'greed is good' is on the out. 'we work together' on the way in. let's pray it doesn't turn into 'let us work together toward a glorious future, comrade'.

Yep. "We work together" to often becomes "you will work for the people, or else".

It's too bad, really, that it isn't obvious just how much we, well, most of us, already work together.

Our for-profit corporations organize large numbers of people into groups that cooperate producing goods and services. Why doesn't that count as "working together"?

And when money flows in large circles from producer to producer, with goods and services flowing in the opposite direction, why isn't that "working together"? Why isn't that cooperation? There's no way in hell for a modern society to function with cooperation. Even the most greedy couldn't satisfy their avarice without having to cooperate with others at somepoint.

I suspect that people advocating for greater cooperation really are looking to reduce the power others by increasing their own power politically with the understanding that they'll be able to use that power to "persuade" others to cooperate.

[sunskyfan]

Re: Sometimes, It Really IS Different This Time

I agree ... the markets are working ... most just don't like what they are saying.

[cmraynew]

Re: Sometime It Really IS Different This Time

I also concur... the markets are working. It's just that the sellers don't like the price that buyers are willing (or aren't willing) to pay.