Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
The above exposition points to two further issues that may confuse newcomers:

  1. A substantial fraction of ET regulars are persuaded that WesternTM economies - indeed all modern economies - are best described as planned economies rather than market economies (and that the dichotomy between market and planned economies is a somewhat artificial one).

  2. Financial assets are not capital. Money in the bank is not wealth. Shares in the stock market are not wealth. Those things are command over wealth, but only if that wealth actually exists in the first place. This is taken to be obvious by most ET discussion, but it is not a part of the Conventional Wisdom of the larger society.

- Jake

Friends come and go. Enemies accumulate.
by JakeS (JangoSierra 'at' gmail 'dot' com) on Sat Oct 2nd, 2010 at 06:40:44 AM EST
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