[Pen-l] an inside scoop

[Charles Brown <cdb1003@xxxxxxxxxxx>]

 an inside scoop 
    *    
I've heard that the economics department at a local university (which
shall remain nameless) got together at the start of September and
discussed the stock market. By and large, opinion followed the
standard ideological divide among economists. The free market types
(followers of Edward Prescott, etc.) said it was time to buy, since
there was no place to go but up. The more "new Keynesian" types said
it was time to sell.  If these people put their money where their
mouths were, the free market types got their comeuppance.

-- 
Jim Devine 

^^^^^^

CB: Any inside scoop on how free market
types rationalize the stupendously non-free/free
market Wall Street financial capitalist
sector ? 


It's a lot bigger than an 
elephant sitting in their ideological
living room. How do they ignore it ?
 The notion of "Too big to fail" seems
like such a big and obvious contradiction
for them. It's self-quantifying "too _big_".
Self-punning : the biggest enterprises
are the least free and get free money
from the state, are "socialist". (doubly "free" ?)
The biggest capitalist ,free _market_ institutions,
 turn into their opposite- 
dialectics.
Confirming Lenin's idea, sort of: "Monopoly is the transition
 from capitalism 
to a higher system. " i.e preparation
for socialism. 
 I know it's socialism for the rich
not really socialism, but there's 
something of the "cunning of
history in it", Freudian or something.

( Sorry for the loose talk. the size of the contradiction
and the "revival"  of broadcasts of the word
 "socialism"  even in the
mouths of the right wing, yet , kind of 
blows my mind)
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