[ExI] Greed + Incompetence + A Belief in Market Efficiency = Disaster

[painlord2k at libero.it]

Il 30/01/2009 22.59, Stefano Vaj ha scritto:
> On Fri, Jan 30, 2009 at 9:49 PM, Rafal Smigrodzki
> <rafal.smigrodzki at gmail.com <mailto:rafal.smigrodzki at gmail.com>> wrote:
>  > Just to chime in after a long silence - bravo, there are still
>  > libertarians on the ExI list!
>
> I have some degree of intellectual respect for libertarians,
> objectivists and hard-core anarcho-capitalists.
>
> But what Adam Smith or Ayn Rand would have thought of the system
> described in, e.g.,
>
> - Money as Debt,
> http://video.google.com/videoplay?docid=-9050474362583451279
> - Zeitgeist Addendum,
> http://video.google.com/videoplay?docid=7065205277695921912

Probably in the same ways they would consider money backed by nothing 
apart for the goodwill of a government. Or banks saved at the taxpayer 
expense. Or laws requiring bank to respect quotas of loans to 
minorities. Or government in the business of housing the poor.

This system is very far from a free market, because the interference of 
the governments with the markets is growing larger and larger.

The free market is a way were people have the chance to succeed and to 
fail; if the government don't let any people to fail alone, they force 
all to fail with them later.

The feature the market is lacking is its inability to be driven where 
the high-ups (the intelligentsia) want it to go for their sake. More it 
is forced away from its path and less well it work.

Mirco

P.S.
Adam Smith was a good economists, but he didn't were always right.
He believed that a good's value is linked with the inputs to produce it, 
where the libertarians know it is linked with the evaluation of the 
people buying it. He was good in the case of freedom of commerce.