ECON: When capitalism falls on its sword

From: Robert J. Bradbury (
Date: Fri Jan 18 2002 - 16:19:10 MST

A fairly good editorial by Paul Krugman in the NY Times
today about "A System Corrupted" regarding the Enron affair.


A really interesting contrast to an extropic perspective
where you want to keep taking backward steps until you
have sufficient perspective to begin to see where to
turn the control knobs to try and maximize technology
development, lifespan extension, personal survival, etc.
Those people who had their pension funds invested in Enron
stock have suffered a significant reduction in survival
potential. It is perhaps a lesson in "trusting the system" --
there will always be people who attempt to take advantage of that.

The system clearly needs fixing. One needs protection
of executives, accounting firms, etc. who are operating
in the best interests of investors (or society) [interesting
problems develop when the investors' best interests are
incompatible with those of society] and at the same time
have clear recourse for investors to seek compensation from
individuals who are clever enough to abuse the system.

It begs some really fundamental questions along the personal
freedom, self-development vectors. Should people be allowed
to develop to the level where they can intentionally take
advantage of the current environment? Should one be able
to engineer children with an average height of 7'6" who
become star basketball players. Is it fair to force the
adaptation of the luddites to the longevists perspective?
[The longevists presumably become richer and richer while
the luddites keep getting set back to ground zero due to
the learning period that children require. Failing to
adapt essentially dooms one to extinction.]


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