3 Responses to “It’s All About Money, Cash Money, Cash Money, Who’s Making all the Money”

1. Zombinol Says:
   March 28th, 2008 at 8:34 am

   Ordo ab chao in deed.

2. Dave Bath Says:
   March 28th, 2008 at 9:47 am

   Raf,
   I’ve just picked up Galbraiths “The Age of Uncertainty” again.
   I’d recommend it to anyone who wants to learn about the history of economic thought, and enjoy the honeyed barbs attacking the apologists for uncivilized capital found in each paragraph.

   e.g. (and note “mulct” is an olde terme meaning “impose a penalty by deceit”)

   To mulct investors - other capitalists - left a nasty taste permanently in the public mouth. Public predation - the mulcting of the people at large - though criticized at the time, eventually acquired an aspect of high respectability, great social distinction.

   The manners of capitalism improve. The morals may not.

   Of all classes the rich are the most noticed and the least studied.

   On Adam Smith turning up to a modern metting of managers of conglomerates (e.g. Chambers of Commerce):

   He would be astonished to hear heads of great corporations (…) proclaiming their economic virtue in his name. They, in their turn, whould be appalled when he - of all prophets - told them their enterprises should not exist.

3. Jamesey Says:
   March 28th, 2008 at 9:01 pm

   This quote by Joao Santos of New York University’s Solomon Center, now appears tragically comical after the mess caused by the unregulated financial institutions responsible for the subprime debacle doesn’t it?

   “The justification for any regulation usually stems from a market failure such as externalities, market power or asymmetry of information between buyers and sellers. In the case of banking, there is still no consensus on whether banks need to be regulated and if so, how they should be regulated.”
   http://www.rbnz.govt.nz/speeches/0104984.html

   Raf have you read the rest of the article that the excerpt is from? What do you think of it?

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